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

Emera Incorporated (TSE:EMA)’s share price 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 traded. The stock had previously closed at C$71.43.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EMA. National Bank Financial increased their target price on shares of Emera from C$67.00 to C$68.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 24th. Desjardins increased their price objective on shares of Emera from C$68.00 to C$69.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. TD Securities increased their price objective on shares of Emera from C$74.00 to C$75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. BMO Capital Markets raised 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, Raymond James Financial upped their target price on Emera from C$73.00 to C$74.50 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$71.72.

Emera Price Performance

The business’s 50 day simple moving average is C$68.74 and its 200-day simple moving average is C$67.38. The stock has a market capitalization of C$21.65 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 6.20 and a beta of 0.64. The company has a debt-to-equity ratio of 161.69, a quick ratio of 0.23 and a current ratio of 0.66.

Emera (TSE:EMA) last released its quarterly earnings results on Monday, February 23rd. The company reported C$1.48 earnings per share for the quarter. The company had revenue of C$2.01 billion for the quarter. Emera had a return on equity of 8.11% and a net margin of 13.11%. Research analysts anticipate that Emera Incorporated will post 3.1991627 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Scott Carlyle Balfour sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of C$67.75, for a total value of C$677,500.00. Following the completion of the sale, the director owned 7,733 shares of the company’s stock, valued at C$523,910.75. This represents a 56.39% decrease in their ownership of the stock. Also, insider Daniel Muldoon sold 8,000 shares of the 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 transaction, the insider owned 2,378 shares of the company’s stock, valued at C$159,326. This represents a 77.09% decrease in their position. 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.