Emera (TSE:EMA) Given New C$80.00 Price Target at Scotiabank

Key Points

• Scotiabank raised its price target on Emera to C$80.00 from C$78.00 and kept a sector outperform rating, implying about 6.21% upside from the current price.
• Other analysts have also turned more constructive, with several firms lifting targets; overall, Emera now has a Moderate Buy consensus and an average price target of C$75.27.
• Emera’s shares were trading at C$75.32 after a modest decline, while the company recently reported C$1.37 EPS and C$2.81 billion in quarterly revenue.

Emera (TSE:EMA - Get Free Report) had its target price upped by stock analysts at Scotiabank from C$78.00 to C$80.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price objective suggests a potential upside of 6.21% from the company's current price.

Several other research analysts also recently commented on EMA. National Bank Financial increased their price objective on Emera from C$69.00 to C$75.00 and gave the company a "sector perform" rating in a research note on Monday, June 1st. Desjardins raised their target price on Emera from C$70.00 to C$74.00 and gave the stock a "hold" rating in a research note on Monday. TD lifted 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. Barclays set a C$72.00 price target on shares of Emera and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Emera from C$73.00 to C$79.00 in a report on Tuesday. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Emera has an average rating of "Moderate Buy" and a consensus price target of C$75.27.

Emera Stock Performance

Shares of TSE EMA traded down C$1.06 during mid-day trading on Tuesday, hitting C$75.32. The stock had a trading volume of 295,003 shares, compared to its average volume of 1,223,481. Emera has a twelve month low of C$63.17 and a twelve month high of C$77.80. The firm has a market cap of C$23.04 billion, a PE ratio of 23.03, a PEG ratio of 6.20 and a beta of 0.57. The company has a debt-to-equity ratio of 168.83, a quick ratio of 0.23 and a current ratio of 1.07. The company has a 50 day moving average of C$73.76 and a two-hundred day moving average of C$71.48.

Emera (TSE:EMA - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported C$1.37 EPS for the quarter. Emera had a net margin of 13.20% and a return on equity of 7.90%. The company had revenue of C$2.81 billion for the quarter. Research analysts predict that Emera will post 3.1991627 EPS for the current fiscal year.

Insider Activity at Emera

In related news, insider Richard Janega sold 16,500 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of C$74.25, for a total transaction of C$1,225,125.00. Following the completion of the sale, the insider directly owned 19,642 shares of the company's stock, valued at approximately C$1,458,418.50. This trade represents a 45.65% decrease in their position. 0.09% of the stock is currently owned by company insiders.

About Emera

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.