Emera (TSE:EMA) Price Target Raised to C$77.00

Emera (TSE:EMA) had its price target hoisted by Raymond James Financial from C$75.25 to C$77.00 in a research report released on Monday,BayStreet.CA reports. Raymond James Financial currently has an outperform rating on the stock.

Several other equities research analysts have also weighed in on the company. Barclays set a C$72.00 price objective on Emera and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. TD raised their target price on Emera from C$75.00 to C$77.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. National Bank Financial boosted their price target on Emera from C$69.00 to C$75.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. BMO Capital Markets upped their price target on Emera from C$76.00 to C$80.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Finally, Scotiabank increased their price objective on Emera from C$78.00 to C$80.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Emera currently has an average rating of “Moderate Buy” and a consensus price target of C$76.67.

Emera Stock Performance

TSE EMA opened at C$70.98 on Monday. The stock has a market cap of C$21.80 billion, a P/E ratio of 22.53, a PEG ratio of 6.20 and a beta of 0.57. The company’s 50-day simple moving average is C$74.51 and its 200 day simple moving average is C$72.26. Emera has a twelve month low of C$63.17 and a twelve month high of C$77.99. The company has a quick ratio of 0.23, a current ratio of 0.73 and a debt-to-equity ratio of 153.87.

Emera (TSE:EMA) last posted its quarterly earnings results on Friday, August 7th. The company reported C$0.69 earnings per share (EPS) for the quarter. The firm had revenue of C$2.01 billion during the quarter. Emera had a net margin of 12.85% and a return on equity of 7.51%. As a group, research analysts forecast that Emera will post 3.1991627 earnings per share for the current fiscal year.

Emera Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be paid a dividend of $0.7325 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.93 dividend on an annualized basis and a dividend yield of 4.1%. Emera’s payout ratio is 92.78%.

Insider Buying and Selling

In related news, insider Richard Janega sold 16,500 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of C$74.25, for a total value of C$1,225,125.00. Following the completion of the sale, the insider owned 19,642 shares in the company, valued at approximately C$1,458,418.50. This represents a 45.65% decrease in their ownership of the stock. Corporate insiders own 0.09% of the company’s stock.

Emera Company Profile

Emera (TSX/NYSE: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.7 million customers in the United States, Canada and the Caribbean. Our team of 7,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera’s common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange.