Emera (TSE:EMA) Price Target Raised to C$80.00

Emera (TSE:EMA) had its target price increased by Scotiabank from C$78.00 to C$80.00 in a research note published on Tuesday,BayStreet.CA reports. The firm currently has a sector outperform rating on the stock.

A number of other equities analysts also recently commented on EMA. Desjardins lifted their price objective on shares of Emera from C$70.00 to C$74.00 and gave the stock a “hold” rating in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Emera from C$73.00 to C$79.00 in a research note on Tuesday. Barclays set a C$72.00 target price on shares of Emera and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. National Bank Financial raised their price target on shares of Emera from C$69.00 to C$75.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. 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. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Emera has a consensus rating of “Moderate Buy” and a consensus price target of C$75.77.

Emera Trading Up 0.9%

TSE:EMA opened at C$77.22 on Tuesday. The company has a market cap of C$23.62 billion, a PE ratio of 23.61, a P/E/G ratio of 6.20 and a beta of 0.57. The business’s 50 day moving average is C$74.03 and its two-hundred day moving average is C$71.66. 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 has a 52 week low of C$63.17 and a 52 week high of C$77.80.

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

Emera Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be paid a $0.7325 dividend. This represents a $2.93 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, July 31st. Emera’s dividend payout ratio (DPR) is presently 89.14%.

Insider Activity

In other news, insider Richard Janega sold 16,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 19,642 shares in the company, valued at approximately C$1,458,418.50. This represents a 45.65% decrease in their ownership of the stock. Company insiders own 0.09% of the company’s stock.

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.