Emera (TSE:EMA) Price Target Raised to C$80.00 at Scotiabank

Emera (TSE:EMA) had its price objective raised by Scotiabank from C$78.00 to C$80.00 in a research report report published on Tuesday morning,BayStreet.CA reports. The brokerage currently has a sector outperform rating on the stock.

Several other equities research analysts also recently commented on the stock. Raymond James Financial lifted their target price 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. JPMorgan Chase & Co. upped their price target on shares of Emera from C$73.00 to C$79.00 in a research report on Tuesday. TD raised their price target on shares of Emera from C$75.00 to C$77.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Barclays set a C$72.00 price target on shares of Emera and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Finally, National Bank Financial boosted their price objective on shares of Emera from C$69.00 to C$75.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Emera presently has an average rating of “Moderate Buy” and an average target price of C$75.27.

Emera Price Performance

Emera stock opened at C$75.54 on Tuesday. The stock has a 50-day moving average price of C$73.83 and a two-hundred day moving average price of C$71.53. Emera has a 12 month low of C$63.17 and a 12 month high of C$77.80. The company has a market capitalization of C$23.11 billion, a PE ratio of 23.10, a P/E/G ratio of 6.20 and a beta of 0.57. The company has a current ratio of 1.07, a quick ratio of 0.23 and a debt-to-equity ratio of 168.83.

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

Emera Dividend Announcement

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

Insider Transactions at Emera

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 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 transaction, the insider owned 19,642 shares in the company, valued at approximately C$1,458,418.50. This trade represents a 45.65% decrease in their position. Insiders own 0.09% of the company’s stock.

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.