Emera (TSE:EMA) Given New C$77.00 Price Target at Raymond James Financial

Emera (TSE:EMA) had its target price upped by Raymond James Financial from C$75.25 to C$77.00 in a report released on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s price objective would suggest a potential upside of 8.90% from the company’s current price.

Several other brokerages have also issued reports on EMA. BMO Capital Markets boosted their price objective on Emera from C$76.00 to C$80.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. National Bank Financial lifted their price target on shares of Emera from C$69.00 to C$75.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Scotiabank boosted their price objective on shares of Emera from C$78.00 to C$80.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 21st. TD increased their target price on Emera from C$75.00 to C$77.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Desjardins lifted their price target on Emera from C$70.00 to C$74.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$76.67.

Emera Trading Down 0.2%

EMA stock traded down C$0.17 during midday trading on Monday, hitting C$70.71. 472,689 shares of the company’s stock were exchanged, compared to its average volume of 1,231,897. The stock’s fifty day moving average price is C$74.49 and its 200-day moving average price is C$72.22. 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 company has a market cap of C$21.72 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57. Emera has a one year low of C$63.17 and a one year high of C$77.99.

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

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.

Emera Company Profile

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.