Insider Buying: Emera Inc (EMA) Insider Acquires 6,250 Shares of Stock

Emera Inc (TSE:EMA) insider Scott Carlyle Balfour acquired 6,250 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were purchased at an average cost of C$39.99 per share, with a total value of C$249,937.50.

Shares of Emera Inc (EMA) traded up C$0.34 on Thursday, hitting C$40.03. 485,749 shares of the stock were exchanged, compared to its average volume of 854,924. The stock has a market capitalization of $9,060.00, a price-to-earnings ratio of 14.49 and a beta of -0.01. Emera Inc has a 1 year low of C$39.08 and a 1 year high of C$49.48.

Emera (TSE:EMA) last issued its earnings results on Tuesday, November 14th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.74 by C($0.19). The company had revenue of C$1.43 billion for the quarter, compared to analysts’ expectations of C$1.55 billion. Emera had a net margin of 6.94% and a return on equity of 5.43%.

Several research analysts have commented on EMA shares. Scotiabank lifted their price objective on shares of Emera from C$50.00 to C$51.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 6th. TD Securities set a C$53.00 price objective on shares of Emera and gave the stock a “buy” rating in a research note on Friday, December 29th. National Bank Financial set a C$52.00 price objective on shares of Emera and gave the stock a “sector perform” rating in a research note on Friday, December 29th. BMO Capital Markets dropped their price objective on shares of Emera from C$54.00 to C$52.00 in a research note on Tuesday, February 6th. Finally, Raymond James Financial raised shares of Emera from a “market perform” rating to an “outperform” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of C$50.14.

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About Emera

Emera Incorporated is an energy and services company, which invests in electricity generation, transmission and distribution, gas transmission and utility services. The Company operates through six segments: Emera Florida and New Mexico; Nova Scotia Power Inc (NSPI); Emera Maine; Emera Caribbean; Emera Energy, and Corporate and Other.

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