Emera (TSE:EMA) Hits New 1-Year High – What’s Next?

Emera Incorporated (TSE:EMA)’s share price hit a new 52-week high during trading on Friday . The company traded as high as C$69.89 and last traded at C$69.88, with a volume of 171069 shares changing hands. The stock had previously closed at C$68.66.

Wall Street Analyst Weigh In

EMA has been the topic of a number of research reports. Canadian Imperial Bank of Commerce boosted their price objective on shares of Emera from C$71.00 to C$72.00 in a research report on Monday, November 10th. Raymond James Financial boosted their price target on shares of Emera from C$70.00 to C$73.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Desjardins increased their price objective on shares of Emera from C$64.00 to C$68.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. National Bank Financial lifted their target price on Emera from C$63.00 to C$67.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 17th. Finally, Scotiabank increased their price target on Emera from C$72.00 to C$78.00 in a research report on Tuesday, December 16th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$71.00.

Emera Stock Performance

The company’s fifty day simple moving average is C$67.29 and its 200 day simple moving average is C$66.72. The stock has a market capitalization of C$21.15 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 6.20 and a beta of 0.59. The company has a quick ratio of 0.23, a current ratio of 0.72 and a debt-to-equity ratio of 150.23.

Emera (TSE:EMA) last announced its quarterly earnings results on Friday, November 7th. The company reported C$0.88 EPS for the quarter. Emera had a return on equity of 6.06% and a net margin of 10.51%.The company had revenue of C$2.11 billion during the quarter. On average, equities research analysts expect that Emera Incorporated will post 3.1991627 earnings per share for the current year.

Insider Activity

In other Emera news, insider Daniel Muldoon sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of C$67.00, for a total transaction of C$536,000.00. Following the completion of the sale, the insider directly owned 2,378 shares of the company’s stock, valued at approximately C$159,326. The trade was a 77.09% decrease in their position. Also, Director Scott Carlyle Balfour sold 20,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of C$68.25, for a total value of C$1,365,000.00. Following the sale, the director owned 7,733 shares of the company’s stock, valued at C$527,777.25. This trade represents a 72.12% decrease in their position. Insiders have sold 38,000 shares of company stock worth $2,578,500 in the last quarter. Company insiders own 0.09% of the company’s stock.

Emera Company Profile

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.