Raymond James Financial Forecasts Strong Price Appreciation for Emera (TSE:EMA) Stock

Key Points

• Raymond James Financial raised its price target for Emera (TSE:EMA) stock from C$70.00 to C$73.00, indicating a potential upside of 5.66% from its current price and maintaining an "outperform" rating.
• Other analysts also increased their price targets for Emera, with CIBC setting it at C$71.00, Desjardins at C$68.00, TD Securities at C$74.00, and Scotiabank at C$72.00.
• Recent insider trading revealed significant sell-offs, with directors Judy Ann Steele and Archibald Collins reducing their holdings by 98.09% and 70.11%, respectively, amidst a high volume of insider sales totaling over C$3 million in the last three months.

Emera (TSE:EMA - Get Free Report) had its price target boosted by stock analysts at Raymond James Financial from C$70.00 to C$73.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's price objective would indicate a potential upside of 5.66% from the stock's current price.

EMA has been the topic of several other reports. CIBC upped their price objective on shares of Emera from C$68.00 to C$71.00 in a report on Tuesday. Desjardins increased their price target on shares of Emera from C$64.00 to C$68.00 and gave the stock a "hold" rating in a report on Wednesday. TD Securities increased their price target on shares of Emera from C$69.00 to C$74.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Royal Bank Of Canada increased their price target on shares of Emera from C$69.00 to C$70.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. Finally, Scotiabank increased their price target on shares of Emera from C$70.00 to C$72.00 and gave the stock an "outperform" rating in a report on Monday, October 6th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Emera presently has a consensus rating of "Moderate Buy" and a consensus price target of C$65.50.

Emera Stock Performance

TSE EMA traded up C$0.03 during trading on Friday, hitting C$69.09. 494,707 shares of the company's stock traded hands, compared to its average volume of 1,188,305. The stock has a market capitalization of C$20.68 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 6.20 and a beta of 0.46. Emera has a 12-month low of C$49.46 and a 12-month high of C$69.62. The company has a debt-to-equity ratio of 150.23, a quick ratio of 0.23 and a current ratio of 0.72. The business has a 50 day moving average of C$66.13 and a 200-day moving average of C$63.34.

Insider Activity at Emera

In other news, Director Judy Ann Steele sold 18,100 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of C$64.90, for a total value of C$1,174,690.00. Following the transaction, the director owned 352 shares in the company, valued at approximately C$22,844.80. This trade represents a 98.09% decrease in their ownership of the stock. Also, Director Archibald Collins sold 30,600 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of C$64.95, for a total transaction of C$1,987,470.00. Following the completion of the transaction, the director owned 13,045 shares in the company, valued at C$847,272.75. This represents a 70.11% decrease in their position. Insiders have sold 49,494 shares of company stock worth $3,213,691 over the last three months. Insiders own 0.09% of the company's stock.

Emera Company Profile

Emera is a geographically diverse energy and services company investing in electricity generation, transmission, and distribution as well as gas transmission and utility energy services. Emera has operations throughout North America and the Caribbean countries.

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