Emera (TSE:EMA) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Emera Incorporated (TSE:EMA - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$56.37 and traded as high as C$60.63. Emera shares last traded at C$60.29, with a volume of 1,437,963 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. CIBC lifted their price objective on Emera from C$63.00 to C$64.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Raymond James reduced their price target 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. BMO Capital Markets upped their price target on shares of Emera from C$60.00 to C$65.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Scotiabank lifted their price objective on Emera from C$60.00 to C$62.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Finally, Desjardins set a C$62.00 price target on Emera and gave the stock a "hold" rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Emera has a consensus rating of "Moderate Buy" and a consensus target price of C$59.82.

Emera Stock Up 0.6%

The firm has a market cap of C$18.06 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The stock's 50 day simple moving average is C$60.27 and its 200 day simple moving average is C$56.65. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend was Thursday, May 1st. Emera's dividend payout ratio is 112.40%.

About Emera

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.