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

Emera (TSE:EMA) had its price objective lifted by equities research analysts at Scotiabank from C$78.00 to C$80.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 4.56% from the stock’s current price.

A number of other equities research analysts have also weighed in on EMA. Raymond James Financial lifted their price objective on Emera from C$74.50 to C$75.25 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Bank of America increased their target price on Emera from C$73.00 to C$74.00 in a research note on Wednesday, April 8th. Desjardins raised their price target on Emera from C$70.00 to C$74.00 and gave the company a “hold” rating in a report on Monday. JPMorgan Chase & Co. raised their price target on Emera from C$73.00 to C$79.00 in a report on Tuesday. Finally, National Bank Financial lifted their price target on Emera from C$69.00 to C$75.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$75.77.

Emera Stock Up 1.3%

EMA stock opened at C$76.51 on Tuesday. Emera has a one year low of C$63.17 and a one year high of C$77.80. The stock has a market capitalization of C$23.40 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57. The company has a debt-to-equity ratio of 168.83, a quick ratio of 0.23 and a current ratio of 1.07. The company has a fifty day moving average of C$73.93 and a 200-day moving average of C$71.60.

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

Insider Buying and Selling

In related news, insider Richard Janega sold 16,500 shares of the business’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 sale, the insider owned 19,642 shares of the company’s stock, 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.

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.