Emera (TSE:EMA) Reaches New 52-Week High – Here’s Why

Emera Incorporated (TSE:EMA) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$71.89 and last traded at C$71.64, with a volume of 79751 shares. The stock had previously closed at C$71.43.

Wall Street Analysts Forecast Growth

EMA has been the subject of several recent research reports. TD Securities raised their price objective on Emera from C$74.00 to C$75.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. National Bank Financial increased their price target on shares of Emera from C$67.00 to C$68.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 24th. Scotiabank lifted their price target on shares of Emera from C$72.00 to C$78.00 in a research report on Tuesday, December 16th. BMO Capital Markets boosted their price objective on shares of Emera from C$72.00 to C$74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Finally, Desjardins upped their price objective on shares of Emera from C$68.00 to C$69.00 and gave the stock a “hold” rating in a report on Tuesday, February 24th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Emera presently has an average rating of “Moderate Buy” and an average target price of C$71.72.

Emera Stock Up 1.3%

The stock has a 50 day simple moving average of C$68.91 and a 200-day simple moving average of C$67.44. The firm has a market cap of C$22.16 billion, a PE ratio of 21.72, a PEG ratio of 6.20 and a beta of 0.64. The company has a debt-to-equity ratio of 161.69, a current ratio of 0.66 and a quick ratio of 0.23.

Emera (TSE:EMA) last released its earnings results on Monday, February 23rd. The company reported C$1.48 EPS for the quarter. Emera had a return on equity of 8.11% and a net margin of 13.11%.The business had revenue of C$2.01 billion for the quarter. Sell-side analysts predict that Emera Incorporated will post 3.1991627 EPS for the current fiscal year.

Insider Transactions at Emera

In related news, Director Scott Carlyle Balfour sold 10,000 shares of the stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of C$67.75, for a total transaction of C$677,500.00. Following the sale, the director directly owned 7,733 shares of the company’s stock, valued at approximately C$523,910.75. This represents a 56.39% decrease in their position. Also, insider Daniel Muldoon sold 8,000 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of C$67.00, for a total transaction of C$536,000.00. Following the sale, the insider directly owned 2,378 shares in the company, valued at C$159,326. This trade represents a 77.09% decrease in their ownership of the stock. 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.