BMO Capital Sticks to Its Buy Rating for Emera (EMA)

BMO Capital analyst Benjamin Pham maintained a Buy rating on Emera on November 7 and set a price target of C$72.00. The company’s shares opened today at C$67.61.

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According to TipRanks, Pham is a 5-star analyst with an average return of 9.3% and a 66.60% success rate. Pham covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners, Boralex Inc Cl A, and Algonquin Power & Utilities.

In addition to BMO Capital, Emera also received a Buy from RBC Capital’s Maurice Choy in a report issued today. However, on October 28, J.P. Morgan maintained a Hold rating on Emera (NYSE: EMA).

Based on Emera’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$1.99 billion and a net profit of C$154 million. In comparison, last year the company earned a revenue of C$1.62 billion and had a net profit of C$147 million

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EMA in relation to earlier this year.