Raymond James Financial Forecasts Strong Price Appreciation for Emera (TSE:EMA) Stock

Emera (TSE:EMA) had its target price raised by research analysts at Raymond James Financial from C$70.00 to C$73.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s price objective suggests a potential upside of 5.54% from the company’s current price.

EMA has been the topic of a number of other research reports. CIBC increased their price target on Emera from C$68.00 to C$71.00 in a research report on Tuesday, October 21st. National Bankshares increased their price target on Emera from C$60.00 to C$62.00 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Desjardins increased their price target on Emera from C$64.00 to C$68.00 and gave the stock a “hold” rating in a research report on Wednesday. TD Securities increased their price target on Emera from C$69.00 to C$74.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Finally, Royal Bank Of Canada increased their price target on Emera from C$69.00 to C$70.00 and gave the stock an “outperform” rating in a research report on Monday, August 11th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$65.50.

Emera Price Performance

Shares of TSE EMA opened at C$69.17 on Friday. The firm has a market cap of C$20.70 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 6.20 and a beta of 0.46. The company has a current ratio of 0.72, a quick ratio of 0.23 and a debt-to-equity ratio of 150.23. Emera has a 1-year low of C$49.46 and a 1-year high of C$69.62. The business’s 50 day moving average is C$66.19 and its 200-day moving average is C$63.44.

Insiders Place Their Bets

In other Emera news, Director Archibald Collins sold 30,600 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of C$64.95, for a total value of C$1,987,470.00. Following the sale, the director owned 13,045 shares of the company’s stock, valued at approximately C$847,272.75. This trade represents a 70.11% decrease in their position. Also, Director Judy Ann Steele sold 794 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of C$64.90, for a total value of C$51,530.60. Following the completion of the sale, the director directly owned 352 shares in the company, valued at approximately C$22,844.80. This represents a 69.28% decrease in their position. In the last ninety days, insiders sold 49,494 shares of company stock worth $3,213,691. Company 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.