Emera (TSE:EMA) Stock Passes Above 200-Day Moving Average – What’s Next?

Emera Incorporated (TSE:EMA)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$63.99 and traded as high as C$68.82. Emera shares last traded at C$67.23, with a volume of 1,426,111 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EMA shares. National Bankshares lifted their price target on Emera from C$60.00 to C$62.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. Cibc World Mkts lowered shares of Emera from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. Raymond James Financial boosted their target price on Emera from C$70.00 to C$73.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Scotiabank raised their price target on Emera from C$70.00 to C$72.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Finally, TD Securities lifted their target price on shares of Emera from C$69.00 to C$74.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$65.50.

Emera Price Performance

The firm has a market cap of C$20.12 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57. 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 firm’s 50 day moving average is C$66.47 and its 200 day moving average is C$64.01.

Insider Transactions at Emera

In other Emera news, Director Archibald Collins sold 30,600 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of C$64.95, for a total transaction of C$1,987,470.00. Following the completion of the sale, the director directly owned 13,045 shares in the company, valued at C$847,272.75. The trade was a 70.11% decrease in their position. Also, Director Judy Ann Steele sold 18,100 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of C$64.90, for a total transaction of C$1,174,690.00. Following the completion of the transaction, the director owned 352 shares in the company, valued at C$22,844.80. This trade represents a 98.09% decrease in their position. In the last three months, insiders sold 49,494 shares of company stock worth $3,213,691. 0.09% of the stock is owned by corporate insiders.

About Emera

Emera is a geographically diverse energy and services company investing in electricity generation, transmission, and distribution as well as gas transmission and utility energy services. Emera has operations throughout North America and the Caribbean countries.