Emera (TSE:EMA) Shares Cross 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$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

Several research analysts have recently issued reports on EMA shares. JPMorgan Chase & Co. upgraded shares of Emera from an “underperform” rating to a “neutral” rating and increased their price objective for the company from C$51.00 to C$56.00 in a report on Thursday, December 12th. Cibc World Mkts upgraded Emera from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. CIBC upgraded Emera from a “neutral” rating to an “outperform” rating and upped their price objective for the company from C$54.00 to C$58.00 in a report on Monday, December 2nd. Bank of America raised Emera from a “neutral” rating to a “buy” rating and raised their target price for the company from C$55.00 to C$57.00 in a research note on Monday, November 25th. Finally, Scotiabank upped their price target on shares of Emera from C$55.00 to C$60.00 in a report on Thursday, December 5th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$57.10.

Emera Price Performance

The stock has a 50-day simple moving average of C$53.08 and a 200 day simple moving average of C$51.20. The company has a debt-to-equity ratio of 155.62, a quick ratio of 0.23 and a current ratio of 0.79. The company has a market cap of C$15.62 billion, a P/E ratio of 21.08, a P/E/G ratio of 6.20 and a beta of 0.35.

Emera Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date is Friday, January 31st. Emera’s dividend payout ratio is 112.84%.

About Emera

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.