Emera Incorporated (OTCMKTS:EMRAF) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 1,437,100 shares, a decrease of 44.0% from the August 15th total of 2,564,200 shares. Based on an average trading volume of 4,700 shares, the short-interest ratio is presently 305.8 days.
Several equities research analysts have recently issued reports on EMRAF shares. Credit Suisse Group increased their price objective on shares of Emera from C$59.00 to C$60.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 1st. National Bank Financial lowered their price target on shares of Emera from C$59.00 to C$58.00 and set a “sector perform” rating for the company in a report on Thursday, August 12th. BMO Capital Markets raised their price target on shares of Emera from C$59.50 to C$62.00 and gave the company an “outperform” rating in a report on Thursday, August 12th. Finally, CIBC raised their price target on shares of Emera from C$59.00 to C$60.00 and gave the company a “neutral” rating in a report on Thursday, August 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Emera presently has a consensus rating of “Buy” and a consensus price target of $60.40.
Shares of Emera stock traded down $0.69 during trading hours on Friday, reaching $45.65. The company’s stock had a trading volume of 3,785 shares, compared to its average volume of 5,370. Emera has a one year low of $38.37 and a one year high of $48.28. The company’s 50 day simple moving average is $46.66 and its 200 day simple moving average is $45.80.
Emera, Inc engages in the provision of renewable energy. It operates through the following segments: Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other. The Florida Electric Utility segment refers to Tampa Electric. The Canadian Electric Utilities segment consists Nova Scotia Power Inc and Emera Newfoundland & Labrador Holdings Inc The Other Electric Utilities segment includes Emera Maine and Emera (Caribbean) Incorporated.
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