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

Key Points

• Emera's stock price has crossed above its 200-day moving average, reaching a high of C$64.90, indicating potential upward momentum.
• Analysts have mixed ratings on Emera, with some upgrading target prices to C$70.00 while others have downgraded their ratings, resulting in an average rating of "Moderate Buy."
• The company recently declared a quarterly dividend of $0.725 per share, providing an annual yield of 4.5% with a high payout ratio of 98.05%.

Emera Incorporated (TSE:EMA - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$61.76 and traded as high as C$64.90. Emera shares last traded at C$64.44, with a volume of 773,022 shares.

Wall Street Analysts Forecast Growth

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

Emera Trading Down 1.3%

The stock has a 50-day moving average of C$64.63 and a two-hundred day moving average of C$61.98. The company has a market cap of C$19.06 billion, a P/E ratio of 21.59, a price-to-earnings-growth 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.

Emera Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors 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 dividend on an annualized basis and a yield of 4.6%. Emera's payout ratio is presently 98.05%.

Insider Transactions at Emera

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

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.