CIBC Forecasts Strong Price Appreciation for Emera (TSE:EMA) Stock

Emera (TSE:EMA) had its target price raised by research analysts at CIBC from C$71.00 to C$72.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 6.98% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Cibc World Mkts cut Emera from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. BMO Capital Markets raised their price objective on shares of Emera from C$65.00 to C$68.00 in a report on Monday, August 11th. Raymond James Financial upped their target price on shares of Emera from C$70.00 to C$73.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Scotiabank increased their target price on shares of Emera from C$70.00 to C$72.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Finally, Desjardins boosted their price target on shares of Emera from C$64.00 to C$68.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Emera has a consensus rating of “Moderate Buy” and a consensus price target of C$66.42.

Emera Stock Up 0.1%

Shares of EMA traded up C$0.07 during midday trading on Monday, hitting C$67.30. The company had a trading volume of 194,442 shares, compared to its average volume of 1,199,005. The company’s 50-day simple moving average is C$66.47 and its 200-day simple moving average is C$64.03. The firm has a market capitalization of C$20.14 billion, a P/E ratio of 22.81, a P/E/G ratio of 6.20 and a beta of 0.57. Emera has a 1 year low of C$49.58 and a 1 year high of C$69.62. The company has a debt-to-equity ratio of 150.23, a quick ratio of 0.23 and a current ratio of 0.72.

Insider Buying and Selling at Emera

In other news, Director Archibald Collins sold 30,600 shares of Emera stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of C$64.95, for a total value of C$1,987,470.00. Following the sale, the director owned 13,045 shares of the company’s stock, valued at C$847,272.75. The trade was a 70.11% decrease in their ownership of the stock. Also, Director Judy Ann Steele sold 794 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of C$64.90, for a total transaction of C$51,530.60. Following the transaction, the director owned 352 shares in the company, valued at approximately C$22,844.80. This trade represents a 69.28% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 49,494 shares of company stock valued at $3,213,691. Corporate insiders own 0.09% of the company’s stock.

About Emera

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.