Emera (TSE:EMA) Reaches New 1-Year High – Time to Buy?

Emera Incorporated (TSE:EMA) shares reached a new 52-week high on Thursday . The company traded as high as C$71.46 and last traded at C$71.20, with a volume of 238717 shares traded. The stock had previously closed at C$71.05.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EMA. TD Securities increased their price objective on shares of Emera from C$74.00 to C$75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Canadian Imperial Bank of Commerce upped their target price on shares of Emera from C$71.00 to C$72.00 in a report on Monday, November 10th. Raymond James Financial increased their price target on Emera from C$73.00 to C$74.50 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Scotiabank raised their price target on Emera from C$72.00 to C$78.00 in a report on Tuesday, December 16th. Finally, National Bank Financial boosted their price objective on Emera from C$67.00 to C$68.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 24th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$71.72.

Emera Price Performance

The company has a quick ratio of 0.23, a current ratio of 0.66 and a debt-to-equity ratio of 161.69. The firm’s fifty day moving average price is C$68.59 and its 200 day moving average price is C$67.30. The stock has a market cap of C$21.45 billion, a PE ratio of 21.03, a P/E/G ratio of 6.20 and a beta of 0.64.

Emera (TSE:EMA) last posted its earnings results on Monday, February 23rd. The company reported C$1.48 earnings per share for the quarter. The company had revenue of C$2.01 billion during the quarter. Emera had a net margin of 13.11% and a return on equity of 8.11%. As a group, equities analysts expect that Emera Incorporated will post 3.1991627 EPS for the current fiscal year.

Insider Buying and Selling at Emera

In related news, Director Scott Carlyle Balfour sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of C$67.75, for a total value of C$677,500.00. Following the sale, the director owned 7,733 shares in the company, valued at approximately C$523,910.75. The trade was a 56.39% decrease in their ownership of the stock. Also, insider Daniel Muldoon sold 8,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of C$67.00, for a total transaction of C$536,000.00. Following the sale, the insider directly owned 2,378 shares in the company, valued at approximately C$159,326. The trade was a 77.09% decrease in their position. Insiders own 0.09% of the company’s stock.

About Emera

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.