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

Key Points

• Desjardins raised Emera’s price target from C$70.00 to C$74.00 while keeping a hold rating on the stock. The new target still implies a slight downside from the current share price.
• Analyst sentiment is mixed but generally positive, with six Buy ratings and four Hold ratings across the covering firms. MarketBeat’s consensus view is a Moderate Buy with an average target price of C$74.75.
• Emera’s shares were down 0.8% in Monday trading at C$76.53, near the stock’s 12-month high of C$77.80. The company also reported recent quarterly earnings of C$1.37 per share on revenue of C$2.81 billion.

Emera (TSE:EMA - Get Free Report) had its price target upped by investment analysts at Desjardins from C$70.00 to C$74.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. Desjardins' price target would indicate a potential downside of 3.31% from the stock's current price.

A number of other brokerages have also issued reports on EMA. Raymond James Financial upped their price target on shares of Emera from C$74.50 to C$75.25 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Barclays set a C$72.00 price target on shares of Emera and gave the company an "equal weight" rating in a report on Tuesday, April 28th. National Bank Financial lifted 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 report on Monday, June 1st. Bank of America increased their target price on shares of Emera from C$73.00 to C$74.00 in a research note on Wednesday, April 8th. Finally, TD upped their price target on Emera from C$75.00 to C$77.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$74.75.

Emera Stock Down 0.8%

Shares of EMA stock traded down C$0.65 during mid-day trading on Monday, hitting C$76.53. The stock had a trading volume of 326,457 shares, compared to its average volume of 1,226,929. The company has a debt-to-equity ratio of 168.83, a current ratio of 1.07 and a quick ratio of 0.23. Emera has a 12-month low of C$62.50 and a 12-month high of C$77.80. The firm's 50-day moving average is C$73.66 and its two-hundred day moving average is C$71.42. The firm has a market capitalization of C$23.41 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57.

Emera (TSE:EMA - Get Free Report) last posted its earnings results on Friday, May 8th. The company reported C$1.37 earnings per share 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, analysts predict that Emera will post 3.1991627 earnings per share for the current fiscal year.

Insider Transactions at Emera

In other Emera news, insider Richard Janega sold 16,500 shares of the stock in a transaction that occurred on 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 directly owned 19,642 shares in the company, valued at C$1,458,418.50. This represents a 45.65% decrease in their position. 0.09% of the stock is owned by company insiders.

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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