Emera (EMA) Reaches New 52-Week High at $41.24

Emera Inc (TSE:EMA)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$41.24 and last traded at C$41.20, with a volume of 1130761 shares. The stock had previously closed at C$40.23.

A number of research firms recently issued reports on EMA. Raymond James increased their price target on shares of Emera from C$51.50 to C$52.00 and gave the stock an “outperform” rating in a research note on Friday, May 25th. National Bank Financial increased their price target on shares of Emera from C$43.00 to C$44.00 and gave the stock a “sector perform” rating in a research note on Friday, May 25th. Scotiabank decreased their target price on shares of Emera from C$48.00 to C$46.00 and set a “sector perform” rating for the company in a research note on Monday, May 14th. Finally, CIBC decreased their target price on shares of Emera from C$55.00 to C$52.00 in a research note on Friday, May 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Emera currently has an average rating of “Buy” and an average price target of C$49.75.

Emera (TSE:EMA) last posted its quarterly earnings results on Thursday, May 10th. The company reported C$0.87 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.80 by C$0.07. Emera had a net margin of 5.77% and a return on equity of 5.85%. The firm had revenue of C$1.81 billion for the quarter, compared to analysts’ expectations of C$1.62 billion.

About Emera

Emera Incorporated, an energy and services company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company is also involved in gas transmission and utility energy services businesses; and the provision of energy marketing, trading, and other energy asset management services.

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