Insider Selling: Emera (TSE:EMA) Insider Sells 16,500 Shares of Stock

Emera Incorporated (TSE:EMA) insider Richard Janega sold 16,500 shares of Emera stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of C$74.25, for a total transaction of C$1,225,125.00. Following the completion of the sale, the insider directly owned 19,642 shares of the company’s stock, valued at approximately C$1,458,418.50. The trade was a 45.65% decrease in their position.

Emera Stock Down 1.2%

Shares of EMA stock traded down C$0.92 on Wednesday, hitting C$72.69. The company’s stock had a trading volume of 300,621 shares, compared to its average volume of 1,275,549. The company has a debt-to-equity ratio of 168.83, a current ratio of 1.07 and a quick ratio of 0.23. Emera Incorporated has a fifty-two week low of C$60.50 and a fifty-two week high of C$74.80. The firm’s fifty day moving average price is C$72.20 and its 200-day moving average price is C$70.02. The stock has a market capitalization of C$22.24 billion, a price-to-earnings ratio of 22.23, a P/E/G 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 business had revenue of C$2.81 billion during the quarter. Research analysts anticipate that Emera Incorporated will post 3.1991627 EPS for the current year.

Emera Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were paid a $0.7325 dividend. This represents a $2.93 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, May 1st. Emera’s payout ratio is presently 89.14%.

Wall Street Analyst Weigh In

Several brokerages recently commented on EMA. Desjardins lifted their target price on shares of Emera from C$69.00 to C$70.00 and gave the stock a “hold” rating in a report on Tuesday, April 28th. Barclays set a C$72.00 target price on shares of Emera and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. TD lifted their target price on shares of Emera from C$75.00 to C$77.00 and gave the stock a “buy” rating in a report on Monday, May 11th. BMO Capital Markets lifted their target price on shares of Emera from C$72.00 to C$74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Finally, TD Securities lifted their target price on shares of Emera from C$74.00 to C$75.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$74.39.

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.