Analysts Set Emera Inc (EMA) PT at $49.75

Emera Inc (TSE:EMA) has received an average recommendation of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$49.75.

EMA has been the subject of several research reports. Royal Bank of Canada decreased their price target on shares of Emera from C$57.00 to C$50.00 and set an “outperform” rating for the company in a research note on Tuesday, February 13th. National Bank Financial cut their price objective on Emera from C$45.00 to C$43.00 in a report on Tuesday, February 13th. TD Securities cut their price objective on Emera from C$53.00 to C$49.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. Scotiabank cut their price objective on Emera from C$50.00 to C$48.00 and set a “sector perform” rating for the company in a report on Tuesday, February 13th. Finally, CIBC cut their price objective on Emera from C$55.00 to C$52.00 in a report on Friday, May 11th.

In related news, Director Christopher Huskilson acquired 10,000 shares of the business’s stock in a transaction dated Friday, March 16th. The stock was bought at an average price of C$40.20 per share, with a total value of C$402,000.00.

Emera opened at C$40.23 on Friday, MarketBeat Ratings reports. Emera has a fifty-two week low of C$39.08 and a fifty-two week high of C$49.48.

Emera (TSE:EMA) last issued its quarterly earnings results on Thursday, May 10th. The company reported C$0.87 earnings per share for the quarter, topping the consensus estimate of C$0.80 by C$0.07. The company had revenue of C$1.81 billion during the quarter, compared to analysts’ expectations of C$1.62 billion. Emera had a net margin of 5.77% and a return on equity of 5.85%.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st were issued a $0.565 dividend. This represents a $2.26 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend was Monday, April 30th.

About Emera

Emera Incorporated, an energy and services company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company is also involved in gas transmission and utility energy services businesses; and the provision of energy marketing, trading, and other energy asset management services.

Analyst Recommendations for Emera (TSE:EMA)

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