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

Emera (TSE:EMA) had its price target raised by stock analysts at Scotiabank from C$72.00 to C$78.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Scotiabank’s target price points to a potential upside of 17.17% from the stock’s current price.

EMA has been the subject of several other research reports. Raymond James Financial raised their price target on shares of Emera from C$70.00 to C$73.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. CIBC increased their target price on Emera from C$71.00 to C$72.00 in a research note on Monday, November 10th. BMO Capital Markets boosted their price target on Emera from C$68.00 to C$72.00 in a research note on Monday, November 10th. Desjardins upped their price target on Emera from C$64.00 to C$68.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Finally, Royal Bank Of Canada increased their price objective on Emera from C$70.00 to C$76.00 in a research report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$70.44.

Emera Stock Up 0.2%

Shares of EMA traded up C$0.12 during mid-day trading on Tuesday, reaching C$66.57. The company had a trading volume of 190,389 shares, compared to its average volume of 1,190,796. The company has a debt-to-equity ratio of 150.23, a quick ratio of 0.23 and a current ratio of 0.72. The company has a market capitalization of C$20.09 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57. The firm has a 50-day moving average price of C$67.47 and a 200 day moving average price of C$65.09. Emera has a 52 week low of C$51.23 and a 52 week high of C$69.62.

Emera (TSE:EMA) last announced its quarterly earnings data on Friday, November 7th. The company reported C$0.88 earnings per share (EPS) for the quarter. Emera had a return on equity of 6.06% and a net margin of 10.51%.The business had revenue of C$2.11 billion during the quarter. On average, sell-side analysts forecast that Emera will post 3.1991627 EPS for the current year.

Insider Transactions at Emera

In other Emera news, Director Scott Carlyle Balfour sold 20,000 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of C$68.25, for a total transaction of C$1,365,000.00. Following the completion of the sale, the director directly owned 7,733 shares in the company, valued at C$527,777.25. The trade was a 72.12% decrease in their position. Insiders own 0.09% of the company’s stock.

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.