Emera (TSE:EMA) Given New C$79.00 Price Target at JPMorgan Chase & Co.

Emera (TSE:EMA) had its price target lifted by analysts at JPMorgan Chase & Co. from C$73.00 to C$79.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 4.89% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Raymond James Financial lifted their price target on shares of Emera from C$74.50 to C$75.25 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Barclays set a C$72.00 price objective on Emera and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. TD upped their target price on shares of Emera from C$75.00 to C$77.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Desjardins raised their price target on Emera from C$70.00 to C$74.00 and gave the company a “hold” rating in a report on Monday. Finally, National Bank Financial boosted their price objective on Emera from C$69.00 to C$75.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$75.27.

Emera Trading Down 1.4%

Emera stock traded down C$1.06 during trading on Tuesday, hitting C$75.32. The company’s stock had a trading volume of 295,003 shares, compared to its average volume of 1,223,481. The stock’s fifty day moving average is C$73.76 and its 200 day moving average is C$71.48. The company has a debt-to-equity ratio of 168.83, a quick ratio of 0.23 and a current ratio of 1.07. Emera has a 1-year low of C$63.17 and a 1-year high of C$77.80. The stock has a market capitalization of C$23.04 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 6.20 and a beta of 0.57.

Emera (TSE:EMA) last posted its quarterly earnings results on Friday, May 8th. The company reported C$1.37 earnings per share (EPS) for the quarter. Emera had a return on equity of 7.90% and a net margin of 13.20%.The firm had revenue of C$2.81 billion during the quarter. As a group, equities research analysts predict that Emera will post 3.1991627 EPS for the current year.

Insider Activity

In related news, insider Richard Janega sold 16,500 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of C$74.25, for a total value of C$1,225,125.00. Following the completion of the transaction, the insider directly owned 19,642 shares in the company, valued at approximately C$1,458,418.50. This represents a 45.65% decrease in their ownership of the stock. Insiders own 0.09% of the company’s stock.

About Emera

Emera (TSX/NYSE: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.7 million customers in the United States, Canada and the Caribbean. Our team of 7,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera’s common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange.