Desjardins Issues Positive Forecast for Emera (TSE:EMA) Stock Price

Key Points

• Desjardins has increased its target price for Emera (TSE:EMA) from C$64.00 to C$68.00, maintaining a "hold" rating, which suggests a potential downside of 2.14% from its previous close.
• Several analysts have raised their price targets for Emera, with TD Securities setting the highest at C$74.00 and a majority rating the stock as a "Buy" or "Outperform."
• Insider trading activity showed significant selling, with key directors offloading large amounts of stock, resulting in a substantial decrease in their holdings.

Emera (TSE:EMA - Get Free Report) had its target price boosted by equities research analysts at Desjardins from C$64.00 to C$68.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. Desjardins' price objective would indicate a potential downside of 2.14% from the stock's previous close.

Several other analysts also recently issued reports on the stock. TD Securities increased their price objective on shares of Emera from C$69.00 to C$74.00 and gave the company a "buy" rating in a research report on Monday, August 11th. National Bankshares raised their price objective on Emera from C$60.00 to C$62.00 and gave the stock a "sector perform" rating in a research note on Monday, August 11th. BMO Capital Markets raised their target price on Emera from C$65.00 to C$68.00 in a research note on Monday, August 11th. Raymond James Financial raised their target price on Emera from C$66.00 to C$70.00 and gave the company an "outperform" rating in a research note on Monday, August 11th. Finally, CIBC raised their price target on Emera from C$68.00 to C$71.00 in a report on Tuesday. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$65.25.

Emera Trading Up 0.6%

Shares of EMA stock traded up C$0.44 during trading hours on Wednesday, hitting C$69.49. 139,905 shares of the company were exchanged, compared to its average volume of 1,186,297. The firm has a market cap of C$20.80 billion, a PE ratio of 23.56, a PEG ratio of 6.20 and a beta of 0.46. Emera has a 1 year low of C$49.46 and a 1 year high of C$69.62. The company has a quick ratio of 0.23, a current ratio of 0.72 and a debt-to-equity ratio of 150.23. The firm has a fifty day moving average of C$65.97 and a 200 day moving average of C$63.23.

Insider Buying and Selling

In other Emera news, Director Judy Ann Steele sold 18,100 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of C$64.90, for a total transaction of C$1,174,690.00. Following the sale, the director owned 352 shares of the company's stock, valued at approximately C$22,844.80. This trade represents a 98.09% decrease in their position. Also, Director Archibald Collins sold 30,600 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of C$64.95, for a total value of C$1,987,470.00. Following the sale, the director directly owned 13,045 shares in the company, valued at C$847,272.75. This trade represents a 70.11% decrease in their position. Over the last ninety days, insiders have sold 49,494 shares of company stock worth $3,213,691. Corporate insiders own 0.09% of the company's stock.

About Emera

Emera is a geographically diverse energy and services company investing in electricity generation, transmission, and distribution as well as gas transmission and utility energy services. Emera has operations throughout North America and the Caribbean countries.

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