Emera Incorporated Gets a Hold Rating from Scotiabank

The Utilities sector company, Emera Incorporated (TSX: EMA), has received a rating update from a Wall Street analyst yesterday. Analyst Robert Hope from Scotiabank reiterated a Hold rating, with a C$50 price target.

According to TipRanks.com, Hope is ranked #792 out of 4628 analysts.

Currently, the analyst consensus on Emera Incorporated is Moderate Buy and the average price target is C$53.80, representing a 14.6% upside.

In a report issued on July 31, BMO Capital also reiterated a Hold rating on the stock with a C$51 price target.

Based on Emera Incorporated’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$1.54 billion and quarterly net profit of C$319 million. In comparison, last year the company earned revenue of C$466 million and had a net profit of C$215 million.

Emera, Inc. is an energy and services company. The company invests in electricity generation, transmission and distribution, as well as gas transmission and utility energy services. Emera was founded on July 23, 1998 and is headquartered in Halifax, Canada.

The company’s shares closed on Friday at C$46.95.

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