Emera (TSE:EMA) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Emera's stock price surpassed its two hundred day moving average of C$61.46, trading as high as C$65.47 before closing at C$65.19.
• Analysts have mixed ratings on Emera, with six granting a "Buy" rating and five issuing "Hold," while recent target prices range from C$62.00 to C$74.00.
• The company announced a quarterly dividend of $0.725 per share, providing an annual yield of 4.4%.

Emera Incorporated (TSE:EMA - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$61.46 and traded as high as C$65.47. Emera shares last traded at C$65.19, with a volume of 1,351,665 shares.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EMA. Royal Bank Of Canada boosted 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. National Bankshares boosted their target price on shares of Emera from C$60.00 to C$62.00 and gave the stock a "sector perform" rating in a research report on Monday, August 11th. Scotiabank boosted their target price on shares of Emera from C$67.00 to C$70.00 and gave the stock an "outperform" rating in a research report on Monday, August 11th. TD Securities boosted their target price on shares of Emera from C$69.00 to C$74.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Finally, CIBC downgraded shares of Emera from an "outperform" rating to a "neutral" rating and boosted their target price for the stock from C$65.00 to C$68.00 in a research report on Monday, August 11th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$64.33.

Emera Price Performance

The company has a debt-to-equity ratio of 150.23, a quick ratio of 0.23 and a current ratio of 0.72. The business's 50 day simple moving average is C$64.23 and its 200-day simple moving average is C$61.54. The stock has a market capitalization of C$19.40 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 6.20 and a beta of 0.55.

Emera Dividend Announcement

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