CIBC Issues Positive Forecast for Emera (TSE:EMA) Stock Price

Emera (TSE:EMA) had its price target upped by research analysts at CIBC from C$71.00 to C$72.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 6.98% from the stock’s current price.

A number of other research analysts also recently issued reports on EMA. Scotiabank lifted their price objective on shares of Emera from C$70.00 to C$72.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Raymond James Financial lifted their target price on shares of Emera from C$70.00 to C$73.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. National Bankshares upped their target price on Emera from C$60.00 to C$62.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Cibc World Mkts downgraded Emera from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. Finally, Royal Bank Of Canada boosted their target price on shares of Emera from C$70.00 to C$76.00 in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Emera currently has a consensus rating of “Moderate Buy” and an average price target of C$66.42.

Emera Stock Up 0.1%

Shares of EMA traded up C$0.07 during trading hours on Monday, hitting C$67.30. The company had a trading volume of 194,442 shares, compared to its average volume of 1,199,005. The company has a current ratio of 0.72, a quick ratio of 0.23 and a debt-to-equity ratio of 150.23. The company has a market capitalization of C$20.14 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57. Emera has a one year low of C$49.58 and a one year high of C$69.62. The company’s fifty day moving average price is C$66.47 and its two-hundred day moving average price is C$64.03.

Insiders Place Their Bets

In other Emera news, Director Archibald Collins sold 30,600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of C$64.95, for a total value of C$1,987,470.00. Following the transaction, the director directly owned 13,045 shares of the company’s stock, valued at C$847,272.75. This trade represents a 70.11% decrease in their position. Also, Director Judy Ann Steele sold 18,100 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of C$64.90, for a total transaction of C$1,174,690.00. Following the transaction, the director directly owned 352 shares in the company, valued at approximately C$22,844.80. The trade was a 98.09% decrease in their position. Insiders sold a total of 49,494 shares of company stock worth $3,213,691 in the last 90 days. 0.09% of the stock is currently owned by insiders.

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.