Emera (TSE:EMA) Given New C$84.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Emera’s price target to C$84.00 from C$76.00 and maintained an “outperform” rating, implying 18.8% upside from the stock’s C$70.71 price.
• Analyst sentiment remains favorable: six analysts rate Emera a Buy and four rate it a Hold, producing a consensus “Moderate Buy” rating and average target price of C$76.67.
• Emera reported quarterly EPS of C$0.69 on revenue of C$2.01 billion, while its shares remain below their 50-day moving average and insiders own just 0.09% of the company after an insider sold 16,500 shares.

Emera (TSE:EMA - Get Free Report) had its price objective lifted by investment analysts at Royal Bank Of Canada from C$76.00 to C$84.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 18.80% from the stock's current price.

Several other research analysts also recently issued reports on the company. BMO Capital Markets lifted their price objective on Emera from C$76.00 to C$80.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 22nd. Scotiabank increased their price target on shares of 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. JPMorgan Chase & Co. boosted their target price on Emera from C$73.00 to C$79.00 in a report on Tuesday, July 21st. Barclays set a C$72.00 price target on Emera and gave the company an "equal weight" rating in a report on Tuesday, April 28th. Finally, National Bank Financial boosted their target price on shares of Emera from C$69.00 to C$75.00 and gave the stock a "sector perform" rating in a research report on Monday, June 1st. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$76.67.

Emera Stock Performance

Shares of Emera stock traded down C$0.17 during trading on Monday, reaching C$70.71. The company's stock had a trading volume of 472,689 shares, compared to its average volume of 1,231,897. The company has a 50-day moving average price of C$74.49 and a two-hundred day moving average price of C$72.22. Emera has a fifty-two week low of C$63.17 and a fifty-two week high of C$77.99. The company has a current ratio of 0.73, a quick ratio of 0.23 and a debt-to-equity ratio of 153.87. The firm has a market cap of C$21.72 billion, a PE ratio of 21.62, a P/E/G ratio of 6.20 and a beta of 0.57.

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 for the quarter. Emera had a return on equity of 7.51% and a net margin of 12.85%.The firm had revenue of C$2.01 billion during the quarter. On average, analysts forecast that Emera will post 3.1991627 EPS for the current year.

Insider Buying and Selling at Emera

In other Emera news, insider Richard Janega sold 16,500 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of C$74.25, for a total value of C$1,225,125.00. Following the transaction, the insider owned 19,642 shares of the company's stock, valued at approximately C$1,458,418.50. This represents a 45.65% decrease in their ownership of the stock. Company insiders own 0.09% of the company's stock.

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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