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

Emera Incorporated (TSE:EMA) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-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 trading hands.

Analyst Upgrades and Downgrades

EMA has been the topic of a number of recent research reports. Royal Bank Of Canada increased their target price on Emera from C$76.00 to C$84.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Raymond James Financial raised their price target on Emera from C$75.25 to C$77.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Canadian Imperial Bank of Commerce decreased their target price on Emera from C$76.00 to C$72.00 in a research note on Tuesday, September 22nd. JPMorgan Chase & Co. upped their price target on Emera from C$73.00 to C$79.00 in a research note on Tuesday, July 21st. Finally, BMO Capital Markets boosted their target price on shares of Emera from C$76.00 to C$80.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Emera presently has an average rating of “Moderate Buy” and a consensus target price of C$76.25.

Emera Stock Up 2.1%

The company has a debt-to-equity ratio of 153.87, a quick ratio of 0.23 and a current ratio of 0.73. The company has a fifty day simple moving average of C$68.17 and a two-hundred day simple moving average of C$71.08. The firm has a market capitalization of C$21.89 billion, a PE ratio of 22.72, a PEG ratio of 6.20 and a beta of 0.42.

Emera (TSE:EMA) last released its quarterly earnings data on Friday, August 7th. The company reported C$0.69 earnings per share for the quarter. The firm had revenue of C$2.01 billion during the quarter. Emera had a return on equity of 7.51% and a net margin of 12.85%. Analysts forecast that Emera Incorporated will post 3.20 EPS for the current fiscal year.

Emera Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, November 13th will be issued a $0.74 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.1%. This is an increase from Emera’s previous quarterly dividend of $0.7325. Emera’s dividend payout ratio (DPR) is 92.78%.

About Emera

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.