Emera (TSE:EMA) Given New C$72.00 Price Target at Scotiabank

Emera (TSE:EMA) had its price target upped by Scotiabank from C$70.00 to C$72.00 in a report released on Monday,BayStreet.CA reports. They currently have an outperform rating on the stock.

EMA has been the subject of several other reports. National Bankshares boosted their price objective on Emera from C$60.00 to C$62.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. Raymond James Financial boosted their price objective on Emera from C$66.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Monday, August 11th. Royal Bank Of Canada boosted their price objective on Emera from C$69.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Monday, August 11th. Cibc World Mkts downgraded shares of Emera from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. Finally, BMO Capital Markets increased their price objective on shares of Emera from C$65.00 to C$68.00 in a report on Monday, August 11th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Emera currently has an average rating of “Moderate Buy” and an average target price of C$64.50.

Emera Price Performance

TSE:EMA opened at C$67.05 on Monday. Emera has a 12 month low of C$49.06 and a 12 month high of C$67.54. The stock has a 50 day moving average of C$65.31 and a two-hundred day moving average of C$62.63. 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 firm has a market cap of C$20.07 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 6.20 and a beta of 0.46.

Emera Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 15th were given a $0.725 dividend. This represents a $2.90 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, August 1st. Emera’s dividend payout ratio (DPR) is currently 98.05%.

Insider Activity at Emera

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 completion of the transaction, the director 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 firm’s stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 352 shares of the company’s stock, valued at C$22,844.80. This represents a 98.09% decrease in their position. Insiders sold a total of 49,494 shares of company stock valued at $3,213,691 in the last three months. 0.09% of the stock is currently owned by corporate 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.