Emera (TSE:EMA) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Emera's shares passed above its 200-day moving average (200‑day MA C$67.83), trading as high as C$70.39 and last at C$69.60 on volume of 550,073 shares.
• Multiple analysts raised price targets on Feb. 24, leaving a consensus rating of Moderate Buy with a consensus price target of C$73.31 (five Buys, three Holds).
• Most recent quarter showed EPS of C$1.48 on C$2.01 billion revenue with a 13.11% net margin and ROE of 8.11%, though the company carries high leverage (debt‑to‑equity 161.69) and a market cap of about C$21 billion.

Emera Incorporated (TSE:EMA - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$67.83 and traded as high as C$70.39. Emera shares last traded at C$69.60, with a volume of 550,073 shares trading hands.

Wall Street Analysts Forecast Growth

EMA has been the topic of several analyst reports. National Bank Financial lifted their price target on Emera from C$67.00 to C$68.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 24th. BMO Capital Markets upped their price objective on shares of Emera from C$72.00 to C$74.00 and gave the company an "outperform" rating in a report on Tuesday, February 24th. TD Securities upped their price objective on shares of Emera from C$74.00 to C$75.00 and gave the company a "buy" rating in a report on Tuesday, February 24th. Desjardins raised their price objective on shares of Emera from C$68.00 to C$69.00 and gave the stock a "hold" rating in a research report on Tuesday, February 24th. Finally, Scotiabank lifted their target price on shares of Emera from C$72.00 to C$78.00 in a research note on Tuesday, December 16th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$73.31.

Emera Stock Performance

The firm has a 50 day simple moving average of C$69.63 and a 200-day simple moving average of C$67.83. The company has a debt-to-equity ratio of 161.69, a current ratio of 0.66 and a quick ratio of 0.23. The company has a market cap of C$21.00 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 6.20 and a beta of 0.64.

Emera (TSE:EMA - Get Free Report) last announced its quarterly earnings results on Monday, February 23rd. The company reported C$1.48 EPS for the quarter. The business had revenue of C$2.01 billion for the quarter. Emera had a return on equity of 8.11% and a net margin of 13.11%. As a group, analysts predict that Emera Incorporated will post 3.1991627 EPS for the current fiscal year.

Insider Transactions at Emera

In related news, Director Scott Carlyle Balfour sold 10,000 shares of the business's stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of C$67.75, for a total value of C$677,500.00. Following the sale, the director directly owned 7,733 shares in the company, valued at approximately C$523,910.75. The trade was a 56.39% decrease in their position. Company insiders own 0.09% of the company's stock.

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.

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