Emera (TSE:EMA) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Key Points

• Raymond James raised Emera’s price target to C$77.00 from C$75.25 and maintained an “outperform” rating, implying 8.9% upside from the prior close.
• Analyst sentiment is broadly positive, with six Buy ratings and four Holds producing a “Moderate Buy” consensus and an average target price of C$76.67.
• Emera shares fell 0.2% to C$70.71 in Monday trading, while the company reported quarterly EPS of C$0.69 on C$2.01 billion in revenue; an insider also sold 16,500 shares worth approximately C$1.23 million.

Emera (TSE:EMA - Get Free Report) had its target price raised by equities research analysts at Raymond James Financial from C$75.25 to C$77.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Raymond James Financial's price target would indicate a potential upside of 8.90% from the company's previous close.

A number of other research firms also recently issued reports on EMA. Desjardins upped their target price on shares of Emera from C$70.00 to C$74.00 and gave the company a "hold" rating in a research report on Monday, July 20th. TD lifted their price target on shares of Emera from C$75.00 to C$77.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their price target on shares of Emera from C$73.00 to C$79.00 in a research note on Tuesday, July 21st. National Bank Financial increased their price objective 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. Finally, Scotiabank raised their price objective on shares of Emera from C$78.00 to C$80.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Emera has a consensus rating of "Moderate Buy" and a consensus target price of C$76.67.

Emera Trading Down 0.2%

Shares of TSE EMA traded down C$0.17 during midday trading on Monday, hitting C$70.71. The stock had a trading volume of 472,689 shares, compared to its average volume of 1,231,897. The firm has a market cap of C$21.72 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57. 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 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 simple moving average is C$74.49 and its 200 day simple 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. The business had revenue of C$2.01 billion for the quarter. Emera had a return on equity of 7.51% and a net margin of 12.85%. Research analysts anticipate that Emera will post 3.1991627 EPS for the current year.

Insider Activity

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