Emera (TSE:EMA) Stock Price Target Cut by TD

Key Points

• TD cut Emera’s price target from C$79 to C$75 while maintaining a “buy” rating, implying approximately 15% upside from the prior close.
• Analyst sentiment remains positive overall: six analysts rate Emera a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average target of C$76.33.
• Emera shares fell 1.7% to C$65.18 during Wednesday trading, near the company’s 52-week low of C$64.79; the utility reported quarterly revenue of C$2.01 billion and EPS of C$0.69.

Emera (TSE:EMA - Get Free Report) had its target price cut by investment analysts at TD from C$79.00 to C$75.00 in a research note issued to investors on Wednesday, BayStreet reports. The firm currently has a "buy" rating on the stock. TD's price target points to a potential upside of 15.07% from the stock's previous close.

EMA has been the subject of several other reports. Raymond James Financial increased their price target on shares of Emera from C$75.25 to C$77.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Desjardins boosted 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, July 20th. Barclays lowered their price objective on Emera from C$74.00 to C$71.00 in a research report on Monday, August 10th. BMO Capital Markets increased their target price on Emera from C$76.00 to C$80.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Finally, Royal Bank Of Canada lifted their target price on Emera from C$76.00 to C$84.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of C$76.33.

Emera Trading Down 1.7%

Shares of EMA stock traded down C$1.13 during mid-day trading on Wednesday, reaching C$65.18. The stock had a trading volume of 1,254,500 shares, compared to its average volume of 1,212,819. The firm has a market capitalization of C$20.02 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 6.20 and a beta of 0.42. The stock's 50-day moving average price is C$70.00 and its two-hundred day moving average price is C$72.09. The company has a current ratio of 0.73, a quick ratio of 0.23 and a debt-to-equity ratio of 153.87. Emera has a 52-week low of C$64.79 and a 52-week high of C$77.99.

Emera (TSE:EMA - Get Free Report) last posted its earnings results on Friday, August 7th. The company reported C$0.69 earnings per share (EPS) for the quarter. Emera had a return on equity of 7.51% and a net margin of 12.85%.The company had revenue of C$2.01 billion for the quarter. Equities analysts expect 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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