Emera (TSE:EMA) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Emera Incorporated (TSE:EMA)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$49.08 and traded as high as C$51.84. Emera shares last traded at C$50.93, with a volume of 1,517,305 shares trading hands.

Analyst Ratings Changes

EMA has been the topic of several analyst reports. Raymond James boosted their target price on Emera from C$54.00 to C$57.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. boosted their price objective on shares of Emera from C$45.00 to C$46.00 in a research report on Thursday, July 25th. CIBC lowered their target price on shares of Emera from C$51.00 to C$50.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Scotiabank upped their price target on shares of Emera from C$52.00 to C$55.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Finally, Bank of America set a C$55.00 price objective on shares of Emera and gave the stock a “neutral” rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$52.10.

Emera Stock Down 3.2 %

The firm has a market capitalization of C$14.69 billion, a PE ratio of 19.82, a PEG ratio of 6.20 and a beta of 0.35. The company has a fifty day simple moving average of C$51.99 and a two-hundred day simple moving average of C$49.08. The company has a debt-to-equity ratio of 155.62, a quick ratio of 0.23 and a current ratio of 0.79.

Emera (TSE:EMA) last issued its earnings results on Friday, August 9th. The company reported C$0.53 earnings per share for the quarter, missing the consensus estimate of C$0.56 by C($0.03). Emera had a return on equity of 6.60% and a net margin of 10.83%. The firm had revenue of C$1.62 billion during the quarter, compared to analysts’ expectations of C$1.67 billion. Analysts forecast that Emera Incorporated will post 3.1991627 EPS for the current fiscal year.

Emera Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be paid a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date of this dividend is Friday, November 1st. Emera’s dividend payout ratio (DPR) is currently 112.84%.

Emera Company Profile

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.