Analysts Set Emera Incorporated (TSE:EMA) PT at C$75.77

Shares of Emera Incorporated (TSE:EMA) have received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$75.77.

EMA has been the subject of a number of research analyst reports. National Bank Financial increased their price objective on shares of Emera from C$69.00 to C$75.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Raymond James Financial boosted their target price on shares of Emera from C$74.50 to C$75.25 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. TD upped their target price on shares of Emera from C$75.00 to C$77.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. BMO Capital Markets raised their target price on shares of Emera from C$76.00 to C$80.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Finally, Bank of America lifted their price target on shares of Emera from C$73.00 to C$74.00 in a report on Wednesday, April 8th.

Emera Stock Performance

TSE:EMA opened at C$73.66 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.23 and a debt-to-equity ratio of 168.83. Emera has a 12-month low of C$63.17 and a 12-month high of C$77.99. The stock has a 50-day moving average price of C$74.56 and a 200 day moving average price of C$72.14. The stock has a market capitalization of C$22.53 billion, a P/E ratio of 22.53, a P/E/G ratio of 6.20 and a beta of 0.57.

Emera (TSE:EMA) last issued its earnings results on Friday, May 8th. The company reported C$1.37 earnings per share (EPS) for the quarter. Emera had a return on equity of 7.90% and a net margin of 13.20%.The company had revenue of C$2.81 billion for the quarter. Equities research analysts forecast that Emera will post 3.1991627 EPS for the current fiscal year.

Emera Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be issued a $0.7325 dividend. This represents a $2.93 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, July 31st. Emera’s payout ratio is 89.14%.

Insider Activity at Emera

In related news, insider Richard Janega sold 16,500 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of C$74.25, for a total value of C$1,225,125.00. Following the sale, the insider directly owned 19,642 shares in the company, valued at approximately C$1,458,418.50. The trade was a 45.65% decrease in their ownership of the stock. Corporate insiders own 0.09% of the company’s stock.

About Emera

Emera (TSX/NYSE: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.7 million customers in the United States, Canada and the Caribbean. Our team of 7,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera’s common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange.