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

Emera (TSE:EMA) had its target price upped by Desjardins from C$70.00 to C$74.00 in a research report sent to investors on Monday,BayStreet.CA reports. They currently have a hold rating on the stock.

Several other analysts have also recently weighed in on the stock. Barclays set a C$72.00 target price on shares of Emera and gave the company an “equal weight” rating in a report on Tuesday, April 28th. TD increased their price objective on shares of Emera from C$75.00 to C$77.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Bank of America increased their price objective on shares of Emera from C$73.00 to C$74.00 in a research report on Wednesday, April 8th. National Bank Financial raised their price objective on shares of Emera from C$69.00 to C$75.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Finally, Raymond James Financial increased their target price on Emera from C$74.50 to C$75.25 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Emera has a consensus rating of “Moderate Buy” and a consensus target price of C$74.75.

Emera Price Performance

Shares of TSE EMA opened at C$76.38 on Monday. The company has a debt-to-equity ratio of 168.83, a current ratio of 1.07 and a quick ratio of 0.23. The company has a market cap of C$23.36 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57. The stock’s 50-day moving average is C$73.76 and its two-hundred day moving average is C$71.48. Emera has a 1-year low of C$62.50 and a 1-year high of C$77.80.

Emera (TSE:EMA) last announced its quarterly earnings data on Friday, May 8th. The company reported C$1.37 earnings per share (EPS) for the quarter. Emera had a return on equity of 7.90% and a net margin of 13.20%.The business had revenue of C$2.81 billion during the quarter. Analysts forecast that Emera will post 3.1991627 EPS for the current fiscal year.

Emera Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be issued a $0.7325 dividend. This represents a $2.93 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, July 31st. Emera’s dividend payout ratio is 89.14%.

Insider Transactions at Emera

In other Emera news, insider Richard Janega sold 16,500 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of C$74.25, for a total value of C$1,225,125.00. Following the transaction, the insider directly owned 19,642 shares in the company, valued at C$1,458,418.50. This represents a 45.65% decrease in their ownership of the stock. 0.09% of the stock is owned by company insiders.

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.