Emera (TSE:EMA) Stock Passes Above 200 Day Moving Average – Here’s Why

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$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.

Analyst Upgrades and Downgrades

EMA has been the subject of several recent research reports. Royal Bank of Canada upped their price target on shares of Emera from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. National Bankshares increased their price objective on Emera from C$54.00 to C$55.00 in a report on Thursday, December 5th. JPMorgan Chase & Co. raised Emera from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from C$51.00 to C$56.00 in a report on Thursday, December 12th. 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. Finally, Cibc World Mkts raised Emera from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Emera currently has an average rating of “Moderate Buy” and a consensus target price of C$57.10.

Emera Trading Up 1.4 %

The firm has a market cap of C$15.62 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The firm has a fifty 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 current ratio of 0.79 and a quick ratio of 0.23.

Emera Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 14th will be given a dividend of $0.725 per share. The ex-dividend date is Friday, January 31st. This represents a $2.90 annualized dividend and a dividend yield of 5.35%. Emera’s 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.