Emera (TSE:EMA) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Emera Incorporated (TSE:EMA) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$51.16 and traded as high as C$54.35. Emera shares last traded at C$54.17, with a volume of 829,624 shares traded.

Wall Street Analyst Weigh In

EMA has been the topic of several recent analyst reports. Cibc World Mkts raised Emera from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. CIBC upgraded shares of Emera from a “neutral” rating to an “outperform” rating and boosted their target price for the company from C$54.00 to C$58.00 in a research note on Monday, December 2nd. BMO Capital Markets increased their target price on shares of Emera from C$54.00 to C$58.00 in a research report on Thursday, December 5th. Wells Fargo & Company lifted their price target on shares of Emera from C$51.00 to C$56.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. raised shares of Emera from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from C$51.00 to C$56.00 in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Emera presently has a consensus rating of “Moderate Buy” and an average target price of C$57.10.

Emera Price Performance

The company has a debt-to-equity ratio of 155.62, a current ratio of 0.79 and a quick ratio of 0.23. The firm has a market capitalization of C$15.62 billion, a P/E ratio of 21.08, a PEG ratio of 6.20 and a beta of 0.35. The company’s 50 day moving average price is C$53.08 and its 200 day moving average price is C$51.16.

Emera Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 14th will be given a $0.725 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.90 dividend on an annualized basis and a yield of 5.35%. Emera’s payout ratio is 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.