Barclays Cuts Emera (TSE:EMA) Price Target to C$71.00

Emera (TSE:EMA) had its price target trimmed by Barclays from C$74.00 to C$71.00 in a report released on Monday morning,BayStreet.CA reports.

Several other equities research analysts also recently commented on the stock. National Bank Financial boosted their target price 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. BMO Capital Markets increased their target price on shares of Emera from C$76.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. increased their target price on shares of Emera from C$73.00 to C$79.00 in a research report on Tuesday, July 21st. Scotiabank lifted their price target on shares of Emera from C$78.00 to C$80.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 21st. Finally, TD boosted their price target on shares of Emera from C$75.00 to C$77.00 and gave the company a “buy” rating in a research report on Monday, May 11th. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of C$76.67.

Emera Price Performance

Emera stock opened at C$70.98 on Monday. The company has a debt-to-equity ratio of 153.87, a current ratio of 0.73 and a quick ratio of 0.23. The company has a market capitalization of C$21.80 billion, a PE ratio of 22.53, 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. The business has a 50 day simple moving average of C$74.51 and a 200 day simple moving average of C$72.26.

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

Emera Announces Dividend

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

Insider Activity at Emera

In other news, insider Richard Janega sold 16,500 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of C$74.25, for a total transaction of C$1,225,125.00. Following the sale, 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.