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

Emera (TSE:EMA) had its price target raised by investment analysts at Raymond James Financial from C$73.00 to C$74.50 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s price target indicates a potential upside of 7.46% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Emera from C$68.00 to C$72.00 in a research note on Monday, November 10th. Canadian Imperial Bank of Commerce lifted their price objective on Emera from C$71.00 to C$72.00 in a research report on Monday, November 10th. Royal Bank Of Canada boosted their price target on Emera from C$70.00 to C$76.00 in a research report on Monday, November 10th. National Bank Financial lifted their target price on Emera from C$63.00 to C$67.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. Finally, Scotiabank upped their price target on shares of Emera from C$72.00 to C$78.00 in a report on Tuesday, December 16th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Emera has a consensus rating of “Moderate Buy” and an average price target of C$71.72.

Emera Stock Down 1.1%

Shares of TSE EMA traded down C$0.80 during mid-day trading on Tuesday, hitting C$69.33. The company had a trading volume of 309,223 shares, compared to its average volume of 1,464,986. Emera has a 1-year low of C$56.59 and a 1-year high of C$71.86. The company has a market capitalization of C$20.92 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 6.20 and a beta of 0.59. The company has a debt-to-equity ratio of 150.23, a current ratio of 0.72 and a quick ratio of 0.23. The business’s 50-day simple moving average is C$67.94 and its 200 day simple moving average is C$67.02.

Emera (TSE:EMA) last posted its earnings results on Monday, February 23rd. The company reported C$1.48 EPS for the quarter. Emera had a net margin of 10.51% and a return on equity of 6.06%. The firm had revenue of C$2.01 billion for the quarter. On average, analysts predict that Emera will post 3.1991627 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Daniel Muldoon sold 8,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 2,378 shares of the company’s stock, valued at approximately C$159,326. This trade represents a 77.09% decrease in their position. Also, Director Scott Carlyle Balfour sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of C$67.75, for a total transaction of C$677,500.00. Following the completion of the transaction, the director owned 7,733 shares of the company’s stock, valued at C$523,910.75. This trade represents a 56.39% decrease in their position. Corporate 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.