Emera (TSE:EMA) Given New C$71.00 Price Target at CIBC

Key Points

• CIBC has raised its price target for Emera from C$68.00 to C$71.00, indicating a potential upside of 3.08% from the stock's previous close.
• Six research firms have given Emera a Buy rating, with an average target price of C$64.75, reflecting positive market sentiment.
• Recent insider sales amounted to almost C$3.2 million, indicating a significant reduction in director holdings over the last three months.

Emera (TSE:EMA - Get Free Report) had its price objective upped by investment analysts at CIBC from C$68.00 to C$71.00 in a research note issued on Tuesday,BayStreet.CA reports. CIBC's price target suggests a potential upside of 3.08% from the stock's previous close.

EMA has been the subject of a number of other reports. National Bankshares boosted their price objective on shares of Emera from C$60.00 to C$62.00 and gave the stock a "sector perform" rating in a report on Monday, August 11th. Scotiabank boosted their price target on shares of Emera from C$70.00 to C$72.00 and gave the stock an "outperform" rating in a research note on Monday, October 6th. Royal Bank Of Canada upped their price target on shares of Emera from C$69.00 to C$70.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Raymond James Financial raised their price objective 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, TD Securities boosted their target price on Emera from C$69.00 to C$74.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of C$64.75.

Emera Price Performance

Shares of TSE EMA traded down C$0.23 during trading hours on Tuesday, reaching C$68.88. 147,411 shares of the stock traded hands, compared to its average volume of 1,188,240. The company's 50-day simple moving average is C$65.90 and its two-hundred day simple moving average is C$63.19. The company has a market capitalization of C$20.62 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 6.20 and a beta of 0.46. Emera has a 52-week low of C$49.46 and a 52-week high of C$69.55. The company has a quick ratio of 0.23, a current ratio of 0.72 and a debt-to-equity ratio of 150.23.

Insider Activity

In related news, Director Judy Ann Steele sold 794 shares of the business's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of C$64.90, for a total transaction of C$51,530.60. Following the transaction, the director owned 352 shares in the company, valued at C$22,844.80. The trade was a 69.28% decrease in their position. Also, Director Archibald Collins sold 30,600 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 13,045 shares of the company's stock, valued at C$847,272.75. The trade was a 70.11% decrease in their position. Insiders sold 49,494 shares of company stock worth $3,213,691 over the last three months. 0.09% of the stock is owned by insiders.

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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