Emera (TSE:EMA) Price Target Raised to C$71.00

Emera (TSE:EMA) had its target price boosted by CIBC from C$68.00 to C$71.00 in a report released on Tuesday,BayStreet.CA reports.

EMA has been the topic of a number of other reports. BMO Capital Markets increased their target price on shares of Emera from C$65.00 to C$68.00 in a report on Monday, August 11th. Raymond James Financial increased their target price on shares of Emera from C$66.00 to C$70.00 and gave the stock an “outperform” rating in a report on Monday, August 11th. TD Securities increased their target price on shares of Emera from C$69.00 to C$74.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Cibc World Mkts lowered shares of Emera from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. Finally, Royal Bank Of Canada increased their target price on shares of Emera from C$69.00 to C$70.00 and gave the stock an “outperform” rating in a report on Monday, August 11th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Emera currently has an average rating of “Moderate Buy” and a consensus price target of C$65.25.

Emera Stock Performance

TSE:EMA opened at C$69.06 on Tuesday. The company has a debt-to-equity ratio of 150.23, a quick ratio of 0.23 and a current ratio of 0.72. The stock has a market capitalization of C$20.67 billion, a P/E ratio of 23.41, a PEG ratio of 6.20 and a beta of 0.46. The company has a 50 day moving average price of C$66.13 and a 200 day moving average price of C$63.34. Emera has a fifty-two week low of C$49.46 and a fifty-two week high of C$69.62.

Emera Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 15th were issued a $0.725 dividend. This represents a $2.90 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, August 1st. Emera’s dividend payout ratio (DPR) is presently 98.05%.

Insiders Place Their Bets

In other news, 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 sale, the director directly owned 352 shares in the company, valued at approximately C$22,844.80. This trade represents a 69.28% decrease in their position. Also, Director Archibald Collins sold 30,600 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of C$64.95, for a total transaction of C$1,987,470.00. Following the completion of the transaction, the director directly owned 13,045 shares in the company, valued at C$847,272.75. This trade represents a 70.11% decrease in their ownership of the stock. Insiders sold a total of 49,494 shares of company stock worth $3,213,691 over the last 90 days. 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.