Emera (TSE:EMA) Given New C$71.00 Price Target at CIBC

Emera (TSE:EMA) had its price target hoisted by CIBC from C$68.00 to C$71.00 in a report issued on Tuesday,BayStreet.CA reports.

Other equities research analysts have also recently issued research reports about the stock. Raymond James Financial boosted their target price on shares of Emera from C$66.00 to C$70.00 and gave the company an “outperform” rating in a report on Monday, August 11th. Scotiabank boosted their target price on shares of Emera from C$70.00 to C$72.00 and gave the company an “outperform” rating in a report on Monday, October 6th. TD Securities boosted their target price on shares of Emera from C$69.00 to C$74.00 and gave the company a “buy” rating in a report on Monday, August 11th. Cibc World Mkts cut shares of Emera from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. Finally, Royal Bank Of Canada boosted their target price on shares of Emera from C$69.00 to C$70.00 and gave the company an “outperform” rating in a report on Monday, August 11th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Emera presently has an average rating of “Moderate Buy” and an average price target of C$64.75.

Emera Trading Down 0.1%

TSE:EMA opened at C$69.05 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.23 and a debt-to-equity ratio of 150.23. The stock has a market capitalization of C$20.67 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 6.20 and a beta of 0.46. The firm’s 50 day moving average is C$65.97 and its 200 day moving average is C$63.23. Emera has a 12 month low of C$49.46 and a 12 month high of C$69.55.

Emera Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 15th were given a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, August 1st. Emera’s payout ratio is 98.05%.

Insiders Place Their Bets

In other news, Director Archibald Collins sold 30,600 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were 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 directly owned 13,045 shares in the company, valued at C$847,272.75. The trade was a 70.11% decrease in their position. Also, Director Judy Ann Steele sold 18,100 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of C$64.90, for a total transaction of C$1,174,690.00. Following the transaction, the director owned 352 shares of the company’s stock, valued at C$22,844.80. This trade represents a 98.09% decrease in their ownership of the stock. Insiders have sold a total of 49,494 shares of company stock valued at $3,213,691 over the last 90 days. Company 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.