Emera (TSE:EMA) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Shares of Emera Incorporated (TSE:EMA) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$58.11 and traded as high as C$61.63. Emera shares last traded at C$61.12, with a volume of 386,910 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EMA shares. CIBC boosted their price target on shares of Emera from C$63.00 to C$64.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. BMO Capital Markets boosted their target price on shares of Emera from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a report on Friday, May 9th. Desjardins set a C$62.00 target price on shares of Emera and gave the company a “hold” rating in a research note on Tuesday, May 6th. UBS Group raised their target price on shares of Emera from C$54.00 to C$59.00 in a report on Friday, March 21st. Finally, Raymond James Financial dropped 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. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$59.82.

Emera Stock Performance

The firm’s 50 day simple moving average is C$61.23 and its 200-day simple moving average is C$58.11. The company has a market capitalization of C$17.92 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 6.20 and a beta of 0.35. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.725 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $2.90 annualized dividend and a yield of 4.74%. Emera’s dividend payout ratio (DPR) is presently 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.