JPMorgan Chase & Co. Upgrades Emera (TSE:EMA) to “Neutral”

Emera (TSE:EMA) was upgraded by equities research analysts at JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a C$56.00 price target on the stock, up from their prior price target of C$51.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 2.77% from the stock’s previous close.

EMA has been the topic of several other reports. Cibc World Mkts raised Emera from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Bank of America raised shares of Emera from a “neutral” rating to a “buy” rating and raised their target price for the company from C$55.00 to C$57.00 in a report on Monday, November 25th. Scotiabank upped their price target on shares of Emera from C$55.00 to C$60.00 in a report on Thursday, December 5th. CIBC raised shares of Emera from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from C$54.00 to C$58.00 in a research note on Monday, December 2nd. Finally, National Bankshares raised their target price on Emera from C$54.00 to C$55.00 in a report on Thursday, December 5th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$57.10.

Emera Stock Performance

Shares of TSE:EMA traded up C$0.11 on Thursday, reaching C$54.49. 273,703 shares of the company’s stock were exchanged, compared to its average volume of 1,276,419. The company has a current ratio of 0.79, a quick ratio of 0.23 and a debt-to-equity ratio of 155.62. Emera has a twelve month low of C$44.13 and a twelve month high of C$56.20. The company has a fifty day moving average of C$52.41 and a 200-day moving average of C$49.98. The company has a market capitalization of C$15.71 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 6.20 and a beta of 0.35.

About Emera

Emera Incorporated, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments.