Emera (TSE:EMA) Price Target Raised to C$79.00

Emera (TSE:EMA) had its price target lifted by JPMorgan Chase & Co. from C$73.00 to C$79.00 in a research report sent to investors on Tuesday,BayStreet.CA reports.

Other analysts also recently issued reports about the company. TD upped their price objective on Emera from C$75.00 to C$77.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Raymond James Financial upped their target price on shares of Emera from C$74.50 to C$75.25 and gave the company an “outperform” rating in a report on Tuesday, April 28th. National Bank Financial raised their price target on shares of Emera from C$69.00 to C$75.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. Desjardins raised their price target on shares of Emera from C$70.00 to C$74.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Barclays set a C$72.00 price target on shares of Emera and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$75.77.

Emera Stock Up 0.9%

EMA stock opened at C$77.22 on Tuesday. The company’s 50 day simple moving average is C$74.03 and its 200-day simple moving average is C$71.66. The firm has a market capitalization of C$23.62 billion, a PE ratio of 23.61, a P/E/G ratio of 6.20 and a beta of 0.57. Emera has a 12 month low of C$63.17 and a 12 month high of C$77.80. The company has a debt-to-equity ratio of 168.83, a current ratio of 1.07 and a quick ratio of 0.23.

Emera (TSE:EMA) last issued its quarterly earnings data on Friday, May 8th. The company reported C$1.37 earnings per share (EPS) for the quarter. Emera had a return on equity of 7.90% and a net margin of 13.20%.The firm had revenue of C$2.81 billion during the quarter. Equities analysts expect that Emera will post 3.1991627 earnings per share for the current fiscal year.

Emera Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be issued a dividend of $0.7325 per share. This represents a $2.93 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, July 31st. Emera’s dividend payout ratio is presently 89.14%.

Insider Buying and Selling at Emera

In related news, insider Richard Janega sold 16,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of C$74.25, for a total value of C$1,225,125.00. Following the sale, the insider directly owned 19,642 shares of the company’s stock, valued at approximately C$1,458,418.50. This trade represents a 45.65% decrease in their ownership of the stock. 0.09% of the stock is currently owned by insiders.

About Emera

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.