Desjardins Forecasts Strong Price Appreciation for Emera (TSE:EMA) Stock

Emera (TSE:EMA) had its price target upped by analysts at Desjardins from C$68.00 to C$69.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price objective would suggest a potential downside of 0.48% from the stock’s current price.

Several other analysts have also recently weighed in on the company. TD Securities lifted their price target on Emera from C$74.00 to C$75.00 and gave the stock a “buy” rating in a report on Tuesday. BMO Capital Markets boosted their price target on Emera from C$68.00 to C$72.00 in a research note on Monday, November 10th. Royal Bank Of Canada boosted their target price on shares of Emera from C$70.00 to C$76.00 in a research report on Monday, November 10th. Scotiabank upped their target price on Emera from C$72.00 to C$78.00 in a research report on Tuesday, December 16th. Finally, National Bank Financial raised their target price on Emera from C$63.00 to C$67.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 17th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$71.72.

Emera Stock Down 1.1%

EMA stock traded down C$0.80 during trading on Tuesday, reaching C$69.33. The stock 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 P/E ratio of 19.00, a PEG ratio of 6.20 and a beta of 0.59. The company has a current ratio of 0.72, a quick ratio of 0.23 and a debt-to-equity ratio of 150.23. The firm has a fifty day moving average price of C$67.94 and a 200 day moving average price of C$67.02.

Emera (TSE:EMA) last issued its quarterly 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 business had revenue of C$2.01 billion during the quarter. On average, equities analysts anticipate that Emera will post 3.1991627 earnings per share for the current year.

Insiders Place Their Bets

In other Emera 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 transaction, the insider 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 stock in a transaction that occurred 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 owned 7,733 shares in the company, valued at approximately C$523,910.75. This represents a 56.39% decrease in their ownership of the stock. 0.09% of the stock is currently owned by corporate insiders.

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.