Emera (TSE:EMA) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Emera Incorporated (TSE:EMA)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$66.96 and traded as high as C$70.60. Emera shares last traded at C$70.17, with a volume of 1,168,789 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Raymond James Financial increased their target price on Emera from C$70.00 to C$73.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Scotiabank increased their price objective on shares of Emera from C$72.00 to C$78.00 in a report on Tuesday, December 16th. Canadian Imperial Bank of Commerce boosted their target price on shares of Emera from C$71.00 to C$72.00 in a research note on Monday, November 10th. Royal Bank Of Canada upped their target price on shares of Emera from C$70.00 to C$76.00 in a research report on Monday, November 10th. Finally, BMO Capital Markets lifted their price target on Emera from C$68.00 to C$72.00 in a report on Monday, November 10th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Emera presently has an average rating of “Moderate Buy” and a consensus target price of C$71.00.

Emera Stock Up 0.0%

The firm’s fifty day moving average is C$67.86 and its two-hundred day moving average is C$66.96. The firm has a market cap of C$21.17 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 6.20 and a beta of 0.59. The company has a debt-to-equity ratio of 150.23, a current ratio of 0.72 and a quick ratio of 0.23.

Insider Activity at Emera

In related news, insider Daniel Muldoon sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of C$67.00, for a total transaction of C$536,000.00. Following the transaction, the insider owned 2,378 shares in the company, valued at C$159,326. This trade represents a 77.09% decrease in their ownership of the stock. Also, Director Scott Carlyle Balfour sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of C$67.75, for a total value of C$677,500.00. Following the sale, the director directly owned 7,733 shares in the company, valued at approximately C$523,910.75. The trade was a 56.39% decrease in their position. Company insiders own 0.09% of the company’s stock.

About Emera

Emera is a geographically diverse energy and services company investing in electricity generation, transmission, and distribution as well as gas transmission and utility energy services. Emera has operations throughout North America and the Caribbean countries.