Emera (TSE:EMA) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Emera Incorporated (TSE:EMA) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$51.16 and traded as high as C$54.35. Emera shares last traded at C$54.17, with a volume of 829,624 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. raised Emera from an “underperform” rating to a “neutral” rating and raised their price objective for the company from C$51.00 to C$56.00 in a research note on Thursday, December 12th. Scotiabank lifted their price target on shares of Emera from C$55.00 to C$60.00 in a research report on Thursday, December 5th. Wells Fargo & Company upped their price objective on shares of Emera from C$51.00 to C$56.00 in a report on Monday, December 9th. Bank of America upgraded shares of Emera from a “neutral” rating to a “buy” rating and lifted their target price for the stock from C$55.00 to C$57.00 in a report on Monday, November 25th. Finally, National Bankshares upped their price target on shares of Emera from C$54.00 to C$55.00 in a report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$57.10.

Emera Trading Up 1.4 %

The firm has a market cap of C$15.62 billion, a P/E ratio of 21.08, a PEG ratio of 6.20 and a beta of 0.35. The company’s 50 day moving average is C$53.08 and its two-hundred day moving average is C$51.16. The company has a debt-to-equity ratio of 155.62, a current ratio of 0.79 and a quick ratio of 0.23.

Emera Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 14th will be given a $0.725 dividend. The ex-dividend date is Friday, January 31st. This represents a $2.90 dividend on an annualized basis and a dividend yield of 5.35%. Emera’s dividend payout ratio is currently 112.84%.

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.