Emera (TSE:EMA) Price Target Raised to C$74.00

Emera (TSE:EMA) had its target price hoisted by Desjardins from C$70.00 to C$74.00 in a report issued on Monday,BayStreet.CA reports. Desjardins currently has a hold rating on the stock.

Other analysts have also recently issued reports about the stock. National Bank Financial upped 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 research report on Monday, June 1st. TD boosted their price objective on Emera from C$75.00 to C$77.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Bank of America upped their target price 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 Emera and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Finally, Raymond James Financial boosted their price target on Emera from C$74.50 to C$75.25 and gave the stock an “outperform” rating in a research 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$75.77.

Emera Trading Up 1.3%

Shares of EMA stock opened at C$76.51 on Monday. 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 has a fifty-two week low of C$63.17 and a fifty-two week high of C$77.80. The firm’s 50 day moving average price is C$73.93 and its two-hundred day moving average price is C$71.60. The stock has a market cap of C$23.40 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57.

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

Emera Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be paid a dividend of $0.7325 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.93 annualized dividend and a yield of 3.8%. Emera’s payout ratio is 89.14%.

Insider Transactions at Emera

In other Emera news, insider Richard Janega sold 16,500 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of C$74.25, for a total value of C$1,225,125.00. Following the transaction, the insider owned 19,642 shares in the company, valued at C$1,458,418.50. The trade was a 45.65% decrease in their position. 0.09% of the stock is 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.