Emera (TSE:EMA) Given New C$79.00 Price Target at TD

Key Points

• TD raised Emera’s price target to C$79.00 from C$77.00 and maintained a “buy” rating, implying 11.72% upside from the previous close.
• Analyst sentiment remains positive overall, with six buy ratings and four holds; Emera has a consensus “Moderate Buy” rating and an average target price of C$76.67.
• Emera reported quarterly EPS of C$0.69 on C$2.01 billion in revenue, while its shares traded at C$70.71 and remained below the 50-day moving average of C$74.49.

Emera (TSE:EMA - Get Free Report) had its target price boosted by analysts at TD from C$77.00 to C$79.00 in a research report issued on Monday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. TD's target price suggests a potential upside of 11.72% from the company's previous close.

Several other research firms also recently commented on EMA. National Bank Financial raised their price target on shares of Emera from C$69.00 to C$75.00 and gave the stock a "sector perform" rating in a research note on Monday, June 1st. JPMorgan Chase & Co. boosted their price objective on shares of Emera from C$73.00 to C$79.00 in a research report on Tuesday, July 21st. BMO Capital Markets raised their target price on shares of Emera from C$76.00 to C$80.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 22nd. Barclays decreased their price target on shares of Emera from C$74.00 to C$71.00 in a research note on Monday. Finally, Scotiabank increased their price objective on Emera from C$78.00 to C$80.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$76.67.

Emera Price Performance

Shares of TSE EMA traded down C$0.17 during mid-day trading on Monday, hitting C$70.71. 472,689 shares of the company's stock traded hands, compared to its average volume of 1,231,897. The company has a market capitalization of C$21.72 billion, a P/E ratio of 21.62, a PEG ratio of 6.20 and a beta of 0.57. Emera has a 1 year low of C$63.17 and a 1 year high of C$77.99. The company has a debt-to-equity ratio of 153.87, a current ratio of 0.73 and a quick ratio of 0.23. The company's 50-day moving average is C$74.49 and its two-hundred day moving average is C$72.22.

Emera (TSE:EMA - Get Free Report) last issued its quarterly 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 during the quarter. On average, equities analysts anticipate that Emera will post 3.1991627 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Richard Janega sold 16,500 shares of Emera 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 value of C$1,225,125.00. Following the completion of the sale, the insider directly owned 19,642 shares in the company, valued at C$1,458,418.50. This trade 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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