Emera (TSE:EMA) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Emera's stock has recently crossed above its 200-day moving average, trading at C$65.95 after reaching a high of C$66.34.
• According to analysts, Emera has a consensus rating of "Moderate Buy" and an average target price of C$64.33, with several firms increasing their price targets significantly.
• The company declared a quarterly dividend of $0.725, resulting in an annualized yield of 4.4%, although its dividend payout ratio is currently high at 112.40%.

Shares of Emera Incorporated (TSE:EMA - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$61.10 and traded as high as C$66.34. Emera shares last traded at C$65.95, with a volume of 433,251 shares trading hands.

Analysts Set New Price Targets

EMA has been the topic of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of Emera from C$65.00 to C$68.00 in a research report on Monday, August 11th. National Bankshares boosted their price objective on shares of Emera from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a research report on Monday, August 11th. Scotiabank boosted their price objective on shares of Emera from C$67.00 to C$70.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Cibc World Mkts cut shares of Emera from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. Finally, Raymond James Financial boosted their price objective on shares of Emera from C$66.00 to C$70.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$64.33.

Emera Stock Performance

The firm has a market capitalization of C$19.58 billion, a P/E ratio of 22.17, a P/E/G ratio of 6.20 and a beta of 0.55. The firm has a 50-day moving average price of C$63.93 and a two-hundred day moving average price of C$61.37. 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 Dividend Announcement

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

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.