Emera (TSE:EMA) Share Price Passes Above 200 Day Moving Average - What's Next?

Shares of Emera Incorporated (TSE:EMA - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$57.57 and traded as high as C$60.98. Emera shares last traded at C$60.67, with a volume of 558,619 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EMA shares. Desjardins set a C$62.00 target price on Emera and gave the stock a "hold" rating in a research report on Tuesday, May 6th. BMO Capital Markets raised their target price on Emera from C$60.00 to C$65.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. CIBC raised their target price on Emera from C$63.00 to C$64.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Royal Bank of Canada raised their target price on Emera from C$60.00 to C$63.00 in a report on Monday, February 24th. Finally, Raymond James reduced their target price on Emera from C$64.00 to C$59.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$59.82.

Emera Stock Performance

The stock has a 50-day moving average price of C$60.85 and a 200 day moving average price of C$57.68. The company has a market cap of C$18.00 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The company has a debt-to-equity ratio of 150.23, a current ratio of 0.72 and a quick ratio of 0.23.

Emera Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were paid a $0.725 dividend. This represents a $2.90 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Thursday, May 1st. Emera's payout ratio is 112.40%.

Emera Company Profile

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.