Emera (TSE:EMA) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Emera Incorporated (TSE:EMA) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$71.08 and traded as high as C$71.68. Emera shares last traded at C$71.57, with a volume of 2,898,268 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EMA. JPMorgan Chase & Co. boosted their price objective on shares of Emera from C$73.00 to C$79.00 in a report on Tuesday, July 21st. BMO Capital Markets increased their target price on shares of Emera from C$76.00 to C$80.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Barclays decreased their target price on Emera from C$74.00 to C$71.00 in a research report on Monday, August 10th. Scotiabank boosted their price target on Emera from C$78.00 to C$80.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 21st. Finally, Canadian Imperial Bank of Commerce lowered their price target on Emera from C$76.00 to C$72.00 in a research note on Tuesday, September 22nd. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$76.25.

Emera Price Performance

The stock has a market cap of C$21.99 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 6.20 and a beta of 0.39. The company has a debt-to-equity ratio of 153.87, a current ratio of 0.73 and a quick ratio of 0.23. The stock’s 50 day simple moving average is C$68.25 and its two-hundred day simple moving average is C$71.11.

Emera (TSE:EMA) last announced its quarterly earnings data on Friday, November 6th. The company reported C$0.85 earnings per share (EPS) for the quarter. The company had revenue of C$1.98 billion during the quarter. Emera had a net margin of 12.85% and a return on equity of 7.51%. On average, analysts forecast that Emera Incorporated will post 3.20 earnings per share for the current fiscal year.

Emera Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 13th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Friday, October 30th. This is an increase from Emera’s previous quarterly dividend of $0.7325. This represents a $2.96 dividend on an annualized basis and a yield of 4.1%. Emera’s payout ratio is presently 92.78%.

Emera Company Profile

Emera (TSX/NYSE: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.7 million customers in the United States, Canada and the Caribbean. Our team of 7,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera’s common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange.