Emera (TSE:EMA) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Emera Incorporated (TSE:EMA)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$0.00 and traded as high as C$59.43. Emera shares last traded at C$58.84, with a volume of 659,919 shares.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on EMA shares. JPMorgan Chase & Co. upgraded shares of Emera from an “underperform” rating to a “neutral” rating and lifted their target price for the company from C$51.00 to C$56.00 in a research report on Thursday, December 12th. Scotiabank lifted their price objective on Emera from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. National Bankshares boosted their price objective on Emera from C$54.00 to C$55.00 in a research note on Thursday, December 5th. Wells Fargo & Company raised their target price on Emera from C$51.00 to C$56.00 in a research report on Monday, December 9th. Finally, Royal Bank of Canada boosted their price target on Emera from C$60.00 to C$63.00 in a research report on Monday, February 24th. Three equities research 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 company. According to MarketBeat.com, Emera presently has an average rating of “Moderate Buy” and a consensus price target of C$58.10.

Emera Price Performance

The company has a debt-to-equity ratio of 150.23, a current ratio of 0.72 and a quick ratio of 0.23. The stock has a 50 day simple moving average of C$56.08 and a two-hundred day simple moving average of C$53.80. The company has a market cap of C$17.17 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35.

Emera Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 14th were paid a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date was Friday, January 31st. Emera’s dividend payout ratio (DPR) is presently 112.40%.

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.