Emera (TSE:EMA) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• Emera's stock price recently crossed above its 200-day moving average, signaling potential bullish momentum, and last traded at C$64.50.
• Various analysts have updated their ratings and price targets for Emera, with CIBC and BMO Capital Markets providing optimistic outlooks, raising their targets to C$64.00 and C$65.00 respectively.
• Emera announced a quarterly dividend of $0.725, reflecting an annualized yield of 4.5% and a payout ratio of 112.40%, indicating strong shareholder returns despite high payout levels.

Emera Incorporated (TSE:EMA - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$59.78 and traded as high as C$64.89. Emera shares last traded at C$64.50, with a volume of 792,477 shares trading hands.

Analyst Ratings Changes

EMA has been the topic of a number of recent analyst reports. Raymond James Financial dropped their price target on shares of Emera from C$64.00 to C$59.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. CIBC lifted their price target on shares of Emera from C$63.00 to C$64.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. TD Securities raised shares of Emera to a "strong-buy" rating and set a C$69.00 price target on the stock in a research report on Friday, June 27th. Desjardins set a C$62.00 price target on shares of Emera and gave the company a "hold" rating in a research report on Tuesday, May 6th. Finally, BMO Capital Markets boosted their target price on shares of Emera from C$60.00 to C$65.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Emera presently has an average rating of "Moderate Buy" and a consensus price target of C$60.58.

Emera Price Performance

The company has a debt-to-equity ratio of 150.23, a current ratio of 0.72 and a quick ratio of 0.23. The stock's 50 day simple moving average is C$62.24 and its two-hundred day simple moving average is C$59.88. The stock has a market cap of C$18.91 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 6.20 and a beta of 0.35.

Emera Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.725 per share. The ex-dividend date is Friday, August 1st. This represents a $2.90 dividend on an annualized basis and a yield of 4.5%. Emera's payout ratio is currently 112.40%.

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.