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

Emera (TSE:EMA) had its price target lifted by research analysts at Desjardins from C$70.00 to C$74.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Desjardins’ price objective would indicate a potential downside of 2.04% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. National Bank Financial increased their target price on shares of 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. Raymond James Financial raised their price objective on Emera from C$74.50 to C$75.25 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. TD lifted their price objective on Emera from C$75.00 to C$77.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Barclays set a C$72.00 price objective on Emera and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Finally, Bank of America lifted their price target on shares of Emera from C$73.00 to C$74.00 in a research note on Wednesday, April 8th. Six 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, the stock currently has an average rating of “Moderate Buy” and an average target price of C$75.27.

Emera Stock Performance

Shares of TSE EMA opened at C$75.54 on Monday. The company has a quick ratio of 0.23, a current ratio of 1.07 and a debt-to-equity ratio of 168.83. The business’s 50 day moving average is C$73.83 and its two-hundred day moving average is C$71.53. The company has a market cap of C$23.11 billion, a P/E ratio of 23.10, a P/E/G ratio of 6.20 and a beta of 0.57. Emera has a 12 month low of C$63.17 and a 12 month high of C$77.80.

Emera (TSE:EMA) last issued its quarterly earnings results on Friday, May 8th. The company reported C$1.37 EPS for the quarter. The company 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%. On average, equities analysts expect that Emera will post 3.1991627 EPS for the current year.

Insider Activity

In other news, insider Richard Janega sold 16,500 shares of the stock in a transaction that occurred on 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 completion of the transaction, 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 position. 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.