Emera (TSE:EMA) Hits New 1-Year High – Here’s What Happened

Emera Incorporated (TSE:EMA)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as C$71.86 and last traded at C$69.34, with a volume of 198148 shares. The stock had previously closed at C$70.17.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EMA shares. Royal Bank Of Canada upped their price target on Emera from C$70.00 to C$76.00 in a research note on Monday, November 10th. Scotiabank boosted their price target on Emera from C$72.00 to C$78.00 in a report on Tuesday, December 16th. National Bank Financial increased their target price on shares of Emera from C$63.00 to C$67.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 17th. Canadian Imperial Bank of Commerce upped their price objective on Emera from C$71.00 to C$72.00 in a research note on Monday, November 10th. Finally, BMO Capital Markets lifted their price target on Emera from C$68.00 to C$72.00 in a report on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$71.00.

Emera Trading Down 0.1%

The company has a debt-to-equity ratio of 150.23, a current ratio of 0.72 and a quick ratio of 0.23. The firm has a market capitalization of C$21.16 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 6.20 and a beta of 0.59. The firm’s 50-day simple moving average is C$67.86 and its 200 day simple moving average is C$66.99.

Emera (TSE:EMA) last issued its quarterly earnings data on Monday, February 23rd. The company reported C$1.48 EPS for the quarter. The business had revenue of C$2.01 billion during the quarter. Emera had a net margin of 10.51% and a return on equity of 6.06%. Equities analysts expect that Emera Incorporated will post 3.1991627 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Scott Carlyle Balfour sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of C$67.75, for a total value of C$677,500.00. Following the completion of the sale, the director directly owned 7,733 shares in the company, valued at C$523,910.75. This trade represents a 56.39% decrease in their position. Also, insider Daniel Muldoon sold 8,000 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of C$67.00, for a total value of C$536,000.00. Following the completion of the transaction, the insider owned 2,378 shares in the company, valued at approximately C$159,326. This represents a 77.09% decrease in their ownership of the stock. Corporate insiders own 0.09% of the company’s stock.

Emera Company Profile

Emera is a geographically diverse energy and services company investing in electricity generation, transmission, and distribution as well as gas transmission and utility energy services. Emera has operations throughout North America and the Caribbean countries.