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

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)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 trading hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EMA. CIBC downgraded shares of Emera from an "outperform" rating to a "neutral" rating and raised their target price for the company from C$65.00 to C$68.00 in a report on Monday, August 11th. Scotiabank raised their target price on shares of Emera from C$67.00 to C$70.00 and gave the company an "outperform" rating in a report on Monday, August 11th. Royal Bank Of Canada raised their target price 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 raised their target price on shares of Emera from C$65.00 to C$68.00 in a report on Monday, August 11th. Finally, Cibc World Mkts downgraded shares of Emera from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$64.33.

Emera Price Performance

The firm has a market capitalization of C$19.29 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 6.20 and a beta of 0.55. The company has a debt-to-equity ratio of 150.23, a current ratio of 0.72 and a quick ratio of 0.23. The company's 50-day moving average is C$64.44 and its 200-day moving average is C$61.76.

Emera Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 15th were given a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Friday, August 1st. Emera's payout ratio is 98.05%.

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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