Emera (TSE:EMA) Price Target Raised to C$80.00

Emera (TSE:EMA) had its target price hoisted by BMO Capital Markets from C$76.00 to C$80.00 in a research report sent to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the stock. TD increased their target price on shares of Emera from C$75.00 to C$77.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Raymond James Financial boosted their price target on shares of Emera from C$74.50 to C$75.25 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Desjardins upped their price objective on shares of Emera from C$70.00 to C$74.00 and gave the company a “hold” rating in a research note on Monday, July 20th. National Bank Financial upped 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 research note on Monday, June 1st. Finally, JPMorgan Chase & Co. raised their price objective on Emera from C$73.00 to C$79.00 in a report on Tuesday. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$75.77.

Emera Stock Up 0.4%

Shares of TSE EMA opened at C$77.52 on Wednesday. The company has a market capitalization of C$23.71 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57. The company has a debt-to-equity ratio of 168.83, a current ratio of 1.07 and a quick ratio of 0.23. The business has a 50-day moving average of C$74.16 and a two-hundred day moving average of C$71.70. Emera has a 1 year low of C$63.17 and a 1 year high of C$77.80.

Emera (TSE:EMA) last announced its quarterly earnings results on Friday, May 8th. The company reported C$1.37 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 for the quarter. On average, analysts forecast that Emera will post 3.1991627 earnings per share for the current fiscal year.

Emera Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be issued a $0.7325 dividend. This represents a $2.93 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, July 31st. Emera’s payout ratio is presently 89.14%.

Insider Buying and Selling

In related news, insider Richard Janega sold 16,500 shares of the company’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 completion of the sale, the insider owned 19,642 shares in the company, 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.

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.