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

Emera Incorporated (TSE:EMA)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$50.44 and traded as high as C$54.15. Emera shares last traded at C$53.95, with a volume of 922,807 shares.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on EMA shares. CIBC upgraded shares of Emera from a “neutral” rating to an “outperform” rating and increased their price objective for the company from C$54.00 to C$58.00 in a report on Monday, December 2nd. Wells Fargo & Company increased their price target on Emera from C$51.00 to C$56.00 in a research note on Monday, December 9th. Scotiabank upped their price objective on Emera from C$55.00 to C$60.00 in a report on Thursday, December 5th. BMO Capital Markets increased their target price on Emera from C$54.00 to C$58.00 in a research note on Thursday, December 5th. Finally, Royal Bank of Canada boosted their target price on Emera from C$57.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Emera currently has a consensus rating of “Moderate Buy” and an average target price of C$57.10.

Emera Price Performance

The company’s fifty day moving average price is C$52.92 and its two-hundred day moving average price is C$50.44. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 155.62. The company has a market cap of C$15.56 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 6.20 and a beta of 0.35.

Emera Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were issued a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend was Friday, November 1st. Emera’s dividend payout ratio (DPR) is presently 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.