BidaskClub upgraded shares of Encana Corporation (NYSE:ECA) (TSE:ECA) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
A number of other equities analysts have also weighed in on ECA. UBS AG raised Encana Corporation from a neutral rating to a buy rating and boosted their price objective for the stock from $12.00 to $14.00 in a research note on Thursday, March 23rd. Desjardins reissued a hold rating and set a $13.75 price objective on shares of Encana Corporation in a research note on Thursday, March 30th. GMP Securities reissued a hold rating and set a $13.25 price objective on shares of Encana Corporation in a research note on Friday, March 31st. Canaccord Genuity reissued a buy rating and set a $14.00 price objective on shares of Encana Corporation in a research note on Tuesday, April 11th. Finally, Barclays PLC reissued an overweight rating and set a $12.00 price objective (down previously from $15.00) on shares of Encana Corporation in a research note on Saturday, April 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $13.51.
Encana Corporation (ECA) traded down 1.51% on Wednesday, hitting $9.79. The stock had a trading volume of 6,441,976 shares. The company has a 50-day moving average of $9.02 and a 200 day moving average of $10.98. Encana Corporation has a 12 month low of $7.50 and a 12 month high of $13.85. The company’s market cap is $9.53 billion.
Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings results on Tuesday, May 2nd. The oil and gas company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.08. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $789.49 million. Encana Corporation had a positive return on equity of 5.21% and a negative net margin of 3.87%. During the same period in the previous year, the company posted ($0.15) earnings per share. On average, analysts predict that Encana Corporation will post $0.36 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were issued a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.60%. Encana Corporation’s dividend payout ratio is presently -31.58%.
Large investors have recently modified their holdings of the company. Equity Investment Corp Acquisition Inc increased its stake in shares of Encana Corporation by 10.7% in the first quarter. Equity Investment Corp Acquisition Inc now owns 12,330 shares of the oil and gas company’s stock valued at $144,000 after buying an additional 1,195 shares during the period. Atria Investments LLC bought a new stake in shares of Encana Corporation during the second quarter valued at $113,000. SG Americas Securities LLC bought a new stake in shares of Encana Corporation during the first quarter valued at $166,000. United Services Automobile Association bought a new stake in shares of Encana Corporation during the first quarter valued at $168,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Encana Corporation by 3,857.3% in the first quarter. Quadrant Capital Group LLC now owns 17,531 shares of the oil and gas company’s stock valued at $200,000 after buying an additional 17,088 shares during the period. Institutional investors own 72.62% of the company’s stock.
Encana Corporation Company Profile
Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. The Company’s operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America.
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