Emera (TSE:EMA) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Emera shares have surpassed their 200-day moving average, trading at C$65.72, with a previous high of C$65.99 amid a volume of 564,288 shares.
• Several analysts have raised their price targets for Emera, with the consensus now around C$70.00, indicating strong performance expectations for the stock.
• The company announced a quarterly dividend of $0.725, resulting in an annualized yield of 4.4%, alongside a notable insider sell-off of shares.

Emera Incorporated (TSE:EMA - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$62.26 and traded as high as C$65.99. Emera shares last traded at C$65.72, with a volume of 564,288 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EMA. Raymond James Financial increased their price objective on shares of Emera from C$66.00 to C$70.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. TD Securities upped their price target on shares of Emera from C$69.00 to C$74.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Royal Bank Of Canada lifted their price target on shares of Emera from C$69.00 to C$70.00 and gave the company an "outperform" rating in a report on Monday, August 11th. BMO Capital Markets boosted their price objective on shares of Emera from C$65.00 to C$68.00 in a research note on Monday, August 11th. Finally, Scotiabank increased their target price on Emera from C$67.00 to C$70.00 and gave the stock an "outperform" rating in a research report on Monday, August 11th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$64.33.

Emera Trading Up 0.6%

The firm has a market capitalization of C$19.67 billion, a PE ratio of 22.28, a P/E/G ratio of 6.20 and a beta of 0.55. The company has a debt-to-equity ratio of 150.23, a quick ratio of 0.23 and a current ratio of 0.72. The firm has a fifty day moving average of C$64.94 and a 200 day moving average of C$62.26.

Emera Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 15th were paid a $0.725 dividend. The ex-dividend date was Friday, August 1st. This represents a $2.90 annualized dividend and a dividend yield of 4.4%. Emera's dividend payout ratio is 98.05%.

Insider Activity

In other news, Director Archibald Collins sold 30,600 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of C$64.95, for a total transaction of C$1,987,470.00. Following the completion of the transaction, the director directly owned 13,045 shares in the company, valued at approximately C$847,272.75. This represents a 70.11% decrease in their position. Also, Director Judy Ann Steele sold 794 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of C$64.90, for a total transaction of C$51,530.60. Following the sale, the director directly owned 352 shares of the company's stock, valued at C$22,844.80. The trade was a 69.28% decrease in their position. Insiders have sold 49,494 shares of company stock valued at $3,213,691 over the last 90 days. Insiders own 0.09% of the company's stock.

Emera Company Profile

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.

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