Emera (TSE:EMA) Stock Price Breaks Above 200 Day Moving Average – Here’s What Happened

Emera Incorporated (TSE:EMA) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$71.08 and traded as high as C$71.68. Emera shares last traded at C$71.57, with a volume of 2,898,268 shares changing hands.

Wall Street Analysts Forecast Growth

EMA has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their price objective on shares of Emera from C$76.00 to C$84.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Desjardins set a C$74.00 price target on shares of Emera and gave the stock a “hold” rating in a research report on Tuesday, October 27th. Scotiabank raised their target price on shares of Emera from C$78.00 to C$80.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 21st. National Bank Financial increased their price target on Emera from C$73.00 to C$74.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 8th. Finally, Barclays dropped their target price on Emera from C$74.00 to C$71.00 in a report on Monday, August 10th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Emera presently has an average rating of “Moderate Buy” and a consensus target price of C$76.25.

Emera Stock Performance

The company has a current ratio of 0.73, a quick ratio of 0.23 and a debt-to-equity ratio of 153.87. The company has a market cap of C$21.89 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 6.20 and a beta of 0.42. The firm’s fifty day moving average is C$68.17 and its 200 day moving average is C$71.08.

Emera (TSE:EMA) last issued its quarterly earnings results on Friday, August 7th. The company reported C$0.69 earnings per share for the quarter. The firm had revenue of C$2.01 billion for the quarter. Emera had a net margin of 12.85% and a return on equity of 7.51%. As a group, research analysts predict that Emera Incorporated will post 3.20 EPS for the current fiscal year.

Emera Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 13th will be given a dividend of $0.74 per share. The ex-dividend date is Friday, October 30th. This is a boost from Emera’s previous quarterly dividend of $0.7325. This represents a $2.96 dividend on an annualized basis and a yield of 4.1%. Emera’s dividend payout ratio (DPR) is presently 92.78%.

Emera Company Profile

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.