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

Emera Incorporated (TSE:EMA) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$49.23 and traded as high as C$51.70. Emera shares last traded at C$50.39, with a volume of 1,321,666 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EMA shares. JPMorgan Chase & Co. boosted their price objective on shares of Emera from C$45.00 to C$46.00 in a report on Thursday, July 25th. Scotiabank lifted their price objective on Emera from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Raymond James increased their target price on shares of Emera from C$54.00 to C$57.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. National Bankshares boosted their price target on Emera from C$49.00 to C$54.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. Finally, Royal Bank of Canada lifted their target price on Emera from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$52.10.

Emera Stock Performance

The stock has a market capitalization of C$14.53 billion, a PE ratio of 19.61, a P/E/G ratio of 6.20 and a beta of 0.35. The firm’s 50 day moving average is C$51.98 and its two-hundred day moving average is C$49.23. The company has a debt-to-equity ratio of 155.62, a quick ratio of 0.23 and a current ratio of 0.79.

Emera (TSE:EMA) last announced its quarterly earnings results on Friday, August 9th. The company reported C$0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.56 by C($0.03). Emera had a net margin of 10.83% and a return on equity of 6.60%. The business had revenue of C$1.62 billion during the quarter, compared to analyst estimates of C$1.67 billion. As a group, research analysts predict that Emera Incorporated will post 3.1991627 earnings per share for the current year.

Emera Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be given a $0.725 dividend. The ex-dividend date is Friday, November 1st. This represents a $2.90 annualized dividend and a yield of 5.76%. Emera’s dividend payout ratio (DPR) is 112.84%.

Emera Company Profile

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.