Emera (TSE:EMA) Sets New 52-Week High – Here’s Why

Emera Incorporated (TSE:EMA) reached a new 52-week high during trading on Wednesday . The company traded as high as C$71.89 and last traded at C$71.64, with a volume of 79751 shares trading hands. The stock had previously closed at C$71.43.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Desjardins increased their price target on Emera from C$68.00 to C$69.00 and gave the company a “hold” rating in a research note on Tuesday, February 24th. Raymond James Financial upped their price objective on Emera from C$73.00 to C$74.50 and gave the company an “outperform” rating in a report on Tuesday, February 24th. BMO Capital Markets raised their target price on Emera from C$72.00 to C$74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. National Bank Financial lifted their target price on Emera from C$67.00 to C$68.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 24th. Finally, Scotiabank boosted their price target on shares of Emera from C$72.00 to C$78.00 in a research report on Tuesday, December 16th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$71.72.

Emera Trading Up 0.5%

The company has a debt-to-equity ratio of 161.69, a quick ratio of 0.23 and a current ratio of 0.66. The firm has a market capitalization of C$21.65 billion, a P/E ratio of 21.23, a price-to-earnings-growth ratio of 6.20 and a beta of 0.64. The firm has a 50 day moving average price of C$68.74 and a two-hundred day moving average price of C$67.38.

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

Insider Transactions at Emera

In other Emera news, insider Daniel Muldoon sold 8,000 shares of the company’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 sale, the insider directly owned 2,378 shares of the company’s stock, valued at approximately C$159,326. This represents a 77.09% decrease in their ownership of the stock. Also, Director Scott Carlyle Balfour sold 10,000 shares of Emera 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 directly owned 7,733 shares in the company, valued at approximately C$523,910.75. This trade represents a 56.39% decrease in their ownership of the stock. 0.09% of the stock is currently owned by corporate insiders.

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.