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

Key Points

• National Bank Financial raised Emera’s price target to C$74.00 from C$73.00 while maintaining a “sector perform” rating, implying 13.58% potential upside.
• Analyst sentiment remains positive overall, with six Buy and three Hold ratings; the consensus rating is “Moderate Buy” and the average price target is C$76.25.
• Emera shares fell C$0.21 to C$65.15, near the company’s 52-week low of C$64.66. The utility reported quarterly EPS of C$0.69 on revenue of C$2.01 billion.

Emera (TSE:EMA - Get Free Report) had its target price hoisted by analysts at National Bank Financial from C$73.00 to C$74.00 in a report released on Thursday, BayStreet reports. The brokerage presently has a "sector perform" rating on the stock. National Bank Financial's target price points to a potential upside of 13.58% from the stock's current price.

Several other research firms also recently weighed in on EMA. Raymond James Financial raised their price objective on Emera from C$75.25 to C$77.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. TD decreased their target price on Emera from C$79.00 to C$75.00 and set a "buy" rating on the stock in a research report on Wednesday. Canadian Imperial Bank of Commerce lowered their target price on Emera from C$76.00 to C$72.00 in a report on Tuesday, September 22nd. Desjardins raised their price target on Emera from C$70.00 to C$74.00 and gave the company a "hold" rating in a research report on Monday, July 20th. Finally, Barclays cut their price target on Emera from C$74.00 to C$71.00 in a research note on Monday, August 10th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$76.25.

Emera Price Performance

EMA stock traded down C$0.21 during trading on Thursday, reaching C$65.15. 1,131,479 shares of the company were exchanged, compared to its average volume of 1,225,996. The company has a debt-to-equity ratio of 153.87, a quick ratio of 0.23 and a current ratio of 0.73. The stock's 50 day moving average price is C$69.79 and its 200 day moving average price is C$72.04. Emera has a 52-week low of C$64.66 and a 52-week high of C$77.99. The company has a market cap of C$20.01 billion, a P/E ratio of 20.68, a PEG ratio of 6.20 and a beta of 0.42.

Emera (TSE:EMA - Get Free Report) last issued its earnings results on Friday, August 7th. The company reported C$0.69 earnings per share (EPS) for the quarter. Emera had a net margin of 12.85% and a return on equity of 7.51%. The company had revenue of C$2.01 billion during the quarter. As a group, analysts predict that Emera will post 3.1991627 earnings per share for the current fiscal year.

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.

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