BMO Capital Markets Forecasts Strong Price Appreciation for Emera (TSE:EMA) Stock

Emera (TSE:EMA) had its price objective lifted by equities researchers at BMO Capital Markets from C$72.00 to C$74.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 6.74% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Scotiabank upped their price objective on shares of Emera from C$72.00 to C$78.00 in a research note on Tuesday, December 16th. Raymond James Financial boosted their price objective on Emera from C$73.00 to C$74.50 and gave the company an “outperform” rating in a research note on Tuesday. National Bank Financial raised their target price on Emera from C$63.00 to C$67.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 17th. Desjardins boosted 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. Finally, Royal Bank Of Canada raised their price objective on shares of Emera from C$70.00 to C$76.00 in a research report on Monday, November 10th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$71.72.

Emera Trading Down 1.1%

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

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

Insider Buying and Selling at Emera

In other Emera news, Director Scott Carlyle Balfour sold 10,000 shares of Emera stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of C$67.75, for a total transaction of C$677,500.00. Following the transaction, the director directly owned 7,733 shares of the company’s stock, valued at C$523,910.75. The trade was a 56.39% decrease in their position. Also, 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 transaction, the insider directly owned 2,378 shares in the company, valued at C$159,326. The trade was a 77.09% decrease in their ownership of the stock. 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.