Emera (TSE:EMA) Price Target Raised to C$80.00

Key Points

• BMO Capital Markets raised Emera’s price target from C$76 to C$80 and maintained an outperform rating, implying modest upside from the current share price.
• Other analysts also turned more positive on the stock, with several firms lifting their targets; MarketBeat says Emera now has a Moderate Buy consensus and an average price target of C$75.77.
• Shares of Emera rose 1.6% to C$76.75, while recent insider activity included a sale by Richard Janega of 16,500 shares at C$74.25.

Emera (TSE:EMA - Get Free Report) had its price target raised by research analysts at BMO Capital Markets from C$76.00 to C$80.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' target price would indicate a potential upside of 4.23% from the company's current price.

Several other research firms have also commented on EMA. National Bank Financial boosted their price target on shares of Emera from C$69.00 to C$75.00 and gave the company a "sector perform" rating in a report on Monday, June 1st. TD boosted their price target on Emera from C$75.00 to C$77.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Scotiabank upped 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. Desjardins raised their price objective on Emera from C$70.00 to C$74.00 and gave the company a "hold" rating in a research report on Monday. Finally, Raymond James Financial raised their price objective on Emera from C$74.50 to C$75.25 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$75.77.

Emera Stock Up 1.6%

Shares of EMA traded up C$1.21 during midday trading on Wednesday, reaching C$76.75. 332,556 shares of the stock were exchanged, compared to its average volume of 1,223,416. The company has a market capitalization of C$23.48 billion, a P/E ratio of 23.47, a PEG ratio of 6.20 and a beta of 0.57. The company has a current ratio of 1.07, a quick ratio of 0.23 and a debt-to-equity ratio of 168.83. Emera has a 52 week low of C$63.17 and a 52 week high of C$77.80. The company's 50 day moving average is C$73.83 and its two-hundred day moving average is C$71.53.

Emera (TSE:EMA - Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported C$1.37 earnings per share for the quarter. Emera had a return on equity of 7.90% and a net margin of 13.20%.The firm had revenue of C$2.81 billion during the quarter. On average, sell-side analysts anticipate that Emera will post 3.1991627 earnings per share for the current year.

Insider Buying and Selling

In other Emera 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 value of C$1,225,125.00. Following the completion of the sale, the insider 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 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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