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

Emera Incorporated (TSE:EMA) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 traded.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. National Bank Financial raised their target price on Emera from C$69.00 to C$75.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Raymond James Financial raised their target price on Emera from C$74.50 to C$75.25 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. TD Securities raised their target price on Emera from C$74.00 to C$75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. BMO Capital Markets raised their target price on Emera from C$72.00 to C$74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Finally, Bank of America raised their target price on Emera from C$73.00 to C$74.00 in a research report on Wednesday, April 8th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Emera presently has a consensus rating of “Moderate Buy” and an average target price of C$74.39.

Emera Trading Up 1.0%

The firm’s 50-day simple moving average is C$72.15 and its 200-day simple moving average is C$69.86. 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 firm has a market capitalization of C$22.28 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57.

Emera (TSE:EMA) last posted its quarterly earnings data 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 net margin of 13.20% and a return on equity of 7.90%. Equities analysts expect that Emera Incorporated will post 3.1991627 earnings per share for the current year.

Emera Announces Dividend

The business also recently disclosed 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. This represents a $2.93 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, May 1st. Emera’s dividend payout ratio (DPR) is 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.