Emera (TSE:EMA) Price Target Raised to C$79.00

Emera (TSE:EMA) had its target price raised by TD from C$77.00 to C$79.00 in a research report report published on Monday morning,BayStreet.CA reports. TD currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Emera from C$73.00 to C$79.00 in a research note on Tuesday, July 21st. BMO Capital Markets lifted their price target on Emera from C$76.00 to C$80.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Raymond James Financial boosted their price target on Emera from C$75.25 to C$77.00 and gave the company an “outperform” rating in a report on Monday. Scotiabank upped their price objective on Emera from C$78.00 to C$80.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 21st. Finally, Desjardins increased their price objective on Emera from C$70.00 to C$74.00 and gave the stock a “hold” rating in a report on Monday, July 20th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$76.67.

Emera Stock Performance

Shares of EMA opened at C$70.98 on Monday. The firm has a market cap of C$21.80 billion, a P/E ratio of 22.53, a PEG ratio of 6.20 and a beta of 0.57. Emera has a twelve month low of C$63.17 and a twelve month high of C$77.99. The company has a debt-to-equity ratio of 153.87, a quick ratio of 0.23 and a current ratio of 0.73. The firm’s 50 day moving average price is C$74.51 and its two-hundred day moving average price is C$72.26.

Emera (TSE:EMA) last issued its quarterly earnings data on Friday, August 7th. The company reported C$0.69 earnings per share (EPS) for the quarter. Emera had a net margin of 12.85% and a return on equity of 7.51%. The company had revenue of C$2.01 billion during the quarter. On average, analysts forecast that Emera will post 3.1991627 EPS for the current fiscal year.

Emera Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be given a $0.7325 dividend. This represents a $2.93 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, July 31st. Emera’s payout ratio is currently 92.78%.

Insider Buying and Selling

In related news, insider Richard Janega sold 16,500 shares of the 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 transaction, the insider owned 19,642 shares in the company, valued at approximately C$1,458,418.50. This represents a 45.65% decrease in their ownership of the stock. Insiders own 0.09% of the company’s stock.

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.