Emera (TSE:EMA) Stock Price Passes Above 200 Day Moving Average – What’s Next?

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$50.44 and traded as high as C$54.15. Emera shares last traded at C$53.95, with a volume of 922,807 shares traded.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Emera from an “underperform” rating to a “neutral” rating and upped their target price for the company from C$51.00 to C$56.00 in a research note on Thursday, December 12th. Wells Fargo & Company increased their target price on Emera from C$51.00 to C$56.00 in a report on Monday, December 9th. BMO Capital Markets boosted their price target on Emera from C$54.00 to C$58.00 in a research note on Thursday, December 5th. Bank of America upgraded Emera from a “neutral” rating to a “buy” rating and increased their price objective for the stock from C$55.00 to C$57.00 in a research note on Monday, November 25th. Finally, 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. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$57.10.

Emera Stock Up 0.3 %

The stock has a market cap of C$15.56 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 6.20 and a beta of 0.35. 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 firm’s 50-day simple moving average is C$52.92 and its two-hundred day simple moving average is C$50.44.

Emera Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were given a dividend of $0.725 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $2.90 dividend on an annualized basis and a dividend yield of 5.38%. 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.