Emera (TSE:EMA) Price Target Lowered to C$71.00 at Barclays

Key Points

• Barclays lowered Emera’s price target to C$71 from C$74, implying only 0.41% upside from the stock’s C$70.71 trading price.
• Despite Barclays’ cut, analyst sentiment remains positive overall: Emera has a consensus rating of “Moderate Buy” and an average price target of C$76.67.
• Emera reported quarterly EPS of C$0.69 on revenue of C$2.01 billion, while shares fell 0.2% in Monday trading. Insider Richard Janega also sold 16,500 shares in June.

Emera (TSE:EMA - Get Free Report) had its target price cut by research analysts at Barclays from C$74.00 to C$71.00 in a note issued to investors on Monday,BayStreet.CA reports. Barclays's price target would suggest a potential upside of 0.41% from the stock's current price.

A number of other analysts have also recently weighed in on EMA. Scotiabank boosted their price target on Emera from C$78.00 to C$80.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 21st. Royal Bank Of Canada raised their price objective on Emera from C$76.00 to C$84.00 and gave the company an "outperform" rating in a research note on Monday. TD boosted their price objective on shares of Emera from C$75.00 to C$77.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. BMO Capital Markets upped their price objective on shares of Emera from C$76.00 to C$80.00 and gave the stock an "outperform" rating in a report on Wednesday, July 22nd. Finally, Raymond James Financial raised their target price on shares of Emera from C$75.25 to C$77.00 and gave the company an "outperform" rating in a research note on Monday. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$76.67.

Emera Stock Down 0.2%

Shares of EMA stock traded down C$0.17 during trading on Monday, hitting C$70.71. 472,689 shares of the company were exchanged, compared to its average volume of 1,231,897. The business's 50-day simple moving average is C$74.49 and its 200 day simple moving average is C$72.22. Emera has a twelve month low of C$63.17 and a twelve month high of C$77.99. The firm has a market capitalization of C$21.72 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 6.20 and a beta of 0.57. The company has a debt-to-equity ratio of 153.87, a quick ratio of 0.23 and a current ratio of 0.73.

Emera (TSE:EMA - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported C$0.69 EPS for the quarter. Emera had a return on equity of 7.51% and a net margin of 12.85%.The business had revenue of C$2.01 billion during the quarter. As a group, analysts forecast that Emera will post 3.1991627 EPS for the current fiscal year.

Insider Transactions at Emera

In other news, insider Richard Janega sold 16,500 shares of the stock in a transaction 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 transaction, the insider owned 19,642 shares in the company, valued at approximately C$1,458,418.50. This represents a 45.65% decrease in their position. 0.09% of the stock is 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.

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