Emera (TSE:EMA) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Emera Incorporated (TSE:EMA) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$50.17 and traded as high as C$53.78. Emera shares last traded at C$53.45, with a volume of 933,053 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Bank of America upgraded shares of Emera from a “neutral” rating to a “buy” rating and raised their price objective for the stock from C$55.00 to C$57.00 in a research report on Monday, November 25th. National Bankshares lifted their price objective on shares of Emera from C$54.00 to C$55.00 in a research report on Thursday, December 5th. BMO Capital Markets upped their target price on shares of Emera from C$54.00 to C$58.00 in a report on Thursday, December 5th. JPMorgan Chase & Co. raised 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. Finally, CIBC raised 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 report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$57.10.

Emera Stock Performance

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 stock has a market capitalization of C$15.41 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 6.20 and a beta of 0.35. The firm has a fifty day moving average of C$52.52 and a 200-day moving average of C$50.17.

Emera Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were given a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date of this dividend was Friday, November 1st. Emera’s payout ratio is currently 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.