Emera (TSE:EMA) Price Target Raised to C$79.00 at JPMorgan Chase & Co.

Emera (TSE:EMA) had its target price raised by JPMorgan Chase & Co. from C$73.00 to C$79.00 in a report released on Tuesday morning,BayStreet.CA reports.

Several other equities analysts have also issued reports on the company. Bank of America boosted their price objective on Emera from C$73.00 to C$74.00 in a research report on Wednesday, April 8th. Barclays set a C$72.00 target price on shares of Emera and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. National Bank Financial lifted their price target on shares of 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. TD upped their price target on shares of Emera from C$75.00 to C$77.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Raymond James Financial increased their price objective on shares of Emera from C$74.50 to C$75.25 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$75.27.

Emera Trading Down 1.1%

EMA opened at C$75.54 on Tuesday. The firm’s fifty day moving average is C$73.83 and its two-hundred day moving average is C$71.53. The firm has a market cap of C$23.11 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57. Emera has a twelve month low of C$63.17 and a twelve month high of C$77.80. The company has a debt-to-equity ratio of 168.83, a quick ratio of 0.23 and a current ratio of 1.07.

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

Emera Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be given a dividend of $0.7325 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.93 annualized dividend and a yield of 3.9%. Emera’s dividend payout ratio is 89.14%.

Insiders Place Their Bets

In other Emera news, insider Richard Janega sold 16,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider directly owned 19,642 shares in the company, valued at C$1,458,418.50. This trade represents a 45.65% decrease in their ownership of the stock. 0.09% of the stock is currently owned by corporate insiders.

About Emera

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.