Emera (TSE:EMA) Price Target Raised to C$74.00 at Desjardins

Emera (TSE:EMA) had its target price upped by research analysts at Desjardins from C$70.00 to C$74.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ target price suggests a potential downside of 3.31% from the stock’s current price.

Several other analysts also recently issued reports on the stock. TD increased their price objective on shares of Emera from C$75.00 to C$77.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Barclays set a C$72.00 target price on Emera and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. National Bank Financial boosted their price target on Emera from C$69.00 to C$75.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. Raymond James Financial increased their price target on Emera from C$74.50 to C$75.25 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Finally, Bank of America raised their price objective on Emera from C$73.00 to C$74.00 in a research note on Wednesday, April 8th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Emera currently has a consensus rating of “Moderate Buy” and an average target price of C$74.75.

Emera Trading Down 0.8%

Shares of EMA stock traded down C$0.65 during trading hours on Monday, hitting C$76.53. 326,457 shares of the company were exchanged, compared to its average volume of 1,226,929. Emera has a 1 year low of C$62.50 and a 1 year high of C$77.80. The firm has a fifty day moving average of C$73.66 and a 200 day moving average of C$71.42. The firm has a market cap of C$23.41 billion, a PE ratio of 23.40, a PEG ratio of 6.20 and a beta of 0.57. The company has a quick ratio of 0.23, a current ratio of 1.07 and a debt-to-equity ratio of 168.83.

Emera (TSE:EMA) last released its quarterly earnings data on Friday, May 8th. The company reported C$1.37 EPS for the quarter. The business had revenue of C$2.81 billion during the quarter. Emera had a return on equity of 7.90% and a net margin of 13.20%. Analysts expect that Emera will post 3.1991627 earnings per share for the current year.

Insiders Place Their Bets

In other Emera news, insider Richard Janega sold 16,500 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of C$74.25, for a total transaction of C$1,225,125.00. Following the sale, the insider directly owned 19,642 shares of the company’s stock, valued at approximately C$1,458,418.50. This represents a 45.65% decrease in their ownership of the stock. 0.09% of the stock is currently owned by insiders.

Emera Company Profile

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.