Emera (TSE:EMA) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of 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$69.79 and traded as high as C$72.50. Emera shares last traded at C$71.31, with a volume of 1,590,136 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Raymond James Financial lifted their target price on Emera from C$74.50 to C$75.25 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. TD Securities lifted their target price on Emera from C$74.00 to C$75.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. National Bank Financial lifted their target price on Emera from C$69.00 to C$75.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Barclays set a C$72.00 target price on Emera and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Finally, TD lifted their target price on Emera from C$75.00 to C$77.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Emera presently has a consensus rating of “Moderate Buy” and an average target price of C$74.39.

Emera Trading Down 1.2%

The company has a quick ratio of 0.23, a current ratio of 1.07 and a debt-to-equity ratio of 168.83. The stock has a fifty day simple moving average of C$72.12 and a 200 day simple moving average of C$69.79. The firm has a market capitalization of C$21.81 billion, a P/E ratio of 21.81, a PEG ratio of 6.20 and a beta of 0.57.

Emera (TSE:EMA) last posted its quarterly earnings results on Friday, May 8th. The company reported C$1.37 EPS for the quarter. The business had revenue of C$2.81 billion for the quarter. Emera had a return on equity of 7.90% and a net margin of 13.20%. As a group, research analysts forecast that Emera Incorporated will post 3.1991627 EPS for the current year.

Emera Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were issued a dividend of $0.7325 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.93 dividend on an annualized basis and a yield of 4.1%. Emera’s dividend payout ratio (DPR) is currently 89.14%.

About Emera

Emera (TSX/NYSE: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.7 million customers in the United States, Canada and the Caribbean. Our team of 7,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera’s common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange.