Desjardins Issues Positive Forecast for Emera (TSE:EMA) Stock Price

Emera (TSE:EMA) had its price target lifted by analysts at Desjardins from C$68.00 to C$69.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price target would suggest a potential downside of 0.48% from the company’s current price.

Several other brokerages have also recently weighed in on EMA. Scotiabank boosted their price objective on Emera from C$72.00 to C$78.00 in a report on Tuesday, December 16th. National Bank Financial raised their price objective on shares of Emera from C$63.00 to C$67.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 17th. Raymond James Financial upped their target price on shares of Emera from C$73.00 to C$74.50 and gave the stock an “outperform” rating in a report on Tuesday. Royal Bank Of Canada boosted their price objective on Emera from C$70.00 to C$76.00 in a report on Monday, November 10th. Finally, BMO Capital Markets lifted their target price on Emera from C$68.00 to C$72.00 in a research report on Monday, November 10th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Emera has an average rating of “Moderate Buy” and an average target price of C$71.72.

Emera Stock Down 1.1%

Shares of TSE EMA traded down C$0.80 on Tuesday, hitting C$69.33. The company had a trading volume of 309,223 shares, compared to its average volume of 1,464,986. The business has a 50 day moving average of C$67.94 and a two-hundred day moving average of C$67.02. Emera has a 12-month low of C$56.59 and a 12-month high of C$71.86. The company has a quick ratio of 0.23, a current ratio of 0.72 and a debt-to-equity ratio of 150.23. The firm has a market capitalization of C$20.92 billion, a P/E ratio of 19.00, a PEG ratio of 6.20 and a beta of 0.59.

Emera (TSE:EMA) last released its quarterly earnings data on Monday, February 23rd. The company reported C$1.48 EPS for the quarter. The firm had revenue of C$2.01 billion during the quarter. Emera had a net margin of 10.51% and a return on equity of 6.06%. As a group, equities research analysts forecast that Emera will post 3.1991627 earnings per share for the current fiscal year.

Insider Activity

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