Emera (TSE:EMA) Stock Price Expected to Rise, Desjardins Analyst Says

Emera (TSE:EMA) had its price objective upped by stock analysts at Desjardins from C$64.00 to C$68.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ target price would suggest a potential downside of 1.53% from the stock’s current price.

Several other research firms also recently commented on EMA. Royal Bank Of Canada upped their price target on shares of Emera from C$69.00 to C$70.00 and gave the company an “outperform” rating in a research report on Monday, August 11th. BMO Capital Markets upped their target price on shares of Emera from C$65.00 to C$68.00 in a report on Monday, August 11th. TD Securities upped their price objective on Emera from C$69.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Raymond James Financial upped their price objective on Emera from C$66.00 to C$70.00 and gave the company an “outperform” rating in a research note on Monday, August 11th. Finally, National Bankshares upped their price target 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. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$65.25.

Emera Stock Down 0.2%

EMA stock opened at C$69.06 on Wednesday. The company has a fifty day moving average price of C$66.13 and a 200 day moving average price of C$63.34. Emera has a 12 month low of C$49.46 and a 12 month high of C$69.62. The company has a market cap of C$20.67 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 6.20 and a beta of 0.46. The company has a debt-to-equity ratio of 150.23, a current ratio of 0.72 and a quick ratio of 0.23.

Insider Activity

In other news, Director Archibald Collins sold 30,600 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of C$64.95, for a total transaction of C$1,987,470.00. Following the completion of the transaction, the director directly owned 13,045 shares of the company’s stock, valued at approximately C$847,272.75. This represents a 70.11% decrease in their position. Also, Director Judy Ann Steele sold 18,100 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of C$64.90, for a total value of C$1,174,690.00. Following the transaction, the director directly owned 352 shares of the company’s stock, valued at approximately C$22,844.80. This trade represents a 98.09% decrease in their ownership of the stock. Insiders have sold 49,494 shares of company stock valued at $3,213,691 over 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.