JPMorgan Chase & Co. Increases Emera (TSE:EMA) Price Target to C$79.00

Key Points

• JPMorgan Chase raised its price target on Emera from C$73.00 to C$79.00, implying about 4.9% upside from the prior close.
• Other brokers have also turned more constructive on the stock, with several recent target increases; MarketBeat says Emera now has a Moderate Buy consensus and an average price target of C$75.27.
• Emera shares were down 1.4% to C$75.32 in Tuesday trading, while the company recently reported quarterly EPS of C$1.37 on revenue of C$2.81 billion.

Emera (TSE:EMA - Get Free Report) had its target price lifted by research analysts at JPMorgan Chase & Co. from C$73.00 to C$79.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. JPMorgan Chase & Co.'s price target points to a potential upside of 4.89% from the stock's previous close.

Several other brokerages also recently weighed in on EMA. National Bank Financial increased their price target on shares of Emera from C$69.00 to C$75.00 and gave the stock a "sector perform" rating in a report on Monday, June 1st. Bank of America increased their price target on Emera from C$73.00 to C$74.00 in a research report on Wednesday, April 8th. Barclays set a C$72.00 target price on shares of Emera and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. Desjardins boosted their price target on Emera from C$70.00 to C$74.00 and gave the stock a "hold" rating in a research report on Monday. Finally, Raymond James Financial increased their price objective on shares of Emera from C$74.50 to C$75.25 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Emera presently has an average rating of "Moderate Buy" and a consensus price target of C$75.27.

Emera Trading Down 1.4%

Emera stock traded down C$1.06 during midday trading on Tuesday, reaching 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 52-week low of C$63.17 and a 52-week high of C$77.80. The firm has a market cap of C$23.04 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57. The company has a fifty day moving average of C$73.76 and a 200 day moving average of C$71.48. The company has a quick ratio of 0.23, a current ratio of 1.07 and a debt-to-equity ratio of 168.83.

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

Insiders Place Their Bets

In related 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. 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.

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