BMO Capital Markets Issues Positive Forecast for Emera (TSE:EMA) Stock Price

Emera (TSE:EMA) had its price objective increased by BMO Capital Markets from C$76.00 to C$80.00 in a research report report published on Wednesday,BayStreet.CA reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on EMA. Bank of America lifted their price target on Emera from C$73.00 to C$74.00 in a research note on Wednesday, April 8th. Desjardins increased their price objective on Emera from C$70.00 to C$74.00 and gave the company a “hold” rating in a research report on Monday. TD raised their price objective on Emera from C$75.00 to C$77.00 and gave the company a “buy” rating in a report on Monday, May 11th. JPMorgan Chase & Co. boosted their target price on Emera from C$73.00 to C$79.00 in a research report on Tuesday. Finally, Scotiabank upped their target price on Emera from C$78.00 to C$80.00 and gave the stock a “sector outperform” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Emera has an average rating of “Moderate Buy” and an average price target of C$75.77.

Emera Price Performance

Shares of TSE:EMA opened at C$76.51 on Wednesday. The company’s fifty day moving average price is C$73.93 and its 200-day moving average price is C$71.60. 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 firm has a market capitalization of C$23.40 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 6.20 and a beta of 0.57. Emera has a one year low of C$63.17 and a one year high of C$77.80.

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

Emera Dividend Announcement

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

Insider Transactions at Emera

In other Emera news, insider Richard Janega sold 16,500 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of C$74.25, for a total transaction of C$1,225,125.00. Following the completion of the sale, 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 currently owned by 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.