Desjardins Reiterates “Buy” Rating for Emera Inc (EMA)
Emera Inc (TSE:EMA)‘s stock had its “buy” rating restated by investment analysts at Desjardins in a report released on Thursday. They presently have a C$50.00 target price on the stock. Desjardins’ price objective would suggest a potential upside of 10.35% from the stock’s current price.
Several other equities research analysts also recently commented on EMA. Scotiabank reaffirmed a “sector perform” rating and set a C$50.00 price objective on shares of Emera in a report on Wednesday, November 9th. National Bank Financial lowered their price target on shares of Emera from C$55.00 to C$54.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 9th. Barclays PLC lowered their price target on shares of Emera from C$54.00 to C$52.00 and set an “overweight” rating on the stock in a report on Thursday, November 10th. Royal Bank Of Canada increased their price target on shares of Emera from C$56.00 to C$60.00 in a report on Thursday, August 11th. Finally, TD Securities increased their price target on shares of Emera from C$52.00 to C$55.00 and gave the stock a “buy” rating in a report on Wednesday, November 9th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$54.21.
Shares of Emera (TSE:EMA) opened at 45.31 on Thursday. Emera has a 52-week low of $41.32 and a 52-week high of $50.19. The firm has a market capitalization of $9.12 billion and a P/E ratio of 20.52. The company’s 50-day moving average is $45.99 and its 200 day moving average is $47.25.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 15th were given a dividend of $0.5225 per share. This represents a $2.09 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend was Friday, October 28th.
In other Emera news, Director Christopher Huskilson purchased 4,000 shares of Emera stock in a transaction on Thursday, October 6th. The shares were acquired at an average cost of C$45.70 per share, for a total transaction of C$182,800.00.
Emera Incorporated is an energy and services company that invests in electricity generation, transmission and distribution, as well as gas transmission and utility services. The Company operates through six segments: NSPI; Emera Maine; Emera Caribbean, which includes Emera (Caribbean) Incorporated and its subsidiaries, which includes The Barbados Light & Power Company Limited, Dominica Electricity Services Ltd., Grand Bahama Power Company Limited, Emera Utility Services (Bahamas) Limited and an equity investment in St.
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