Emera (TSE:EMA) Shares Cross Above 200-Day Moving Average of $48.13

Emera Incorporated (TSE:EMA)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$48.13 and traded as high as C$53.06. Emera shares last traded at C$51.92, with a volume of 809,405 shares changing hands.

Wall Street Analyst Weigh In

EMA has been the subject of several recent research reports. Scotiabank increased their price target on Emera from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. National Bankshares raised their target price on shares of Emera from C$49.00 to C$54.00 and gave the company a “sector perform” rating in a research note on Friday, August 23rd. BMO Capital Markets boosted their target price on shares of Emera from C$36.00 to C$37.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. CIBC cut their price target on shares of Emera from C$51.00 to C$50.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Finally, Royal Bank of Canada lowered their price objective on shares of Emera from C$60.00 to C$57.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Emera currently has a consensus rating of “Hold” and a consensus price target of C$51.80.

Emera Stock Up 1.1 %

The firm has a market cap of C$15.14 billion, a P/E ratio of 20.42, a P/E/G ratio of 2.77 and a beta of 0.34. The firm’s fifty day moving average is C$50.04 and its 200 day moving average is C$48.19. 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 earnings results on Friday, August 9th. The company reported C$0.53 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.56 by C($0.03). The firm had revenue of C$1.62 billion for the quarter, compared to the consensus estimate of C$1.67 billion. Emera had a return on equity of 6.60% and a net margin of 10.83%. As a group, equities research analysts anticipate that Emera Incorporated will post 3.1512915 earnings per share for the current fiscal year.

Emera Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.717 per share. This represents a $2.87 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date was Thursday, August 1st. Emera’s dividend payout ratio is currently 111.67%.

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.