Encana Corporation (NYSE:ECA) (TSE:ECA) declared a quarterly dividend on Friday, July 21st, RTT News reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.015 per share by the oil and gas company on Friday, September 29th. This represents a $0.06 annualized dividend and a dividend yield of 0.61%.
Encana Corporation has decreased its dividend by an average of 55.3% per year over the last three years. Encana Corporation has a payout ratio of 19.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Encana Corporation to earn $0.64 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 9.4%.
Shares of Encana Corporation (NYSE ECA) traded up 1.65% during mid-day trading on Friday, reaching $9.83. The company’s stock had a trading volume of 30,368,243 shares. The company’s 50-day moving average price is $9.02 and its 200-day moving average price is $10.98. The stock’s market capitalization is $9.56 billion. Encana Corporation has a 12-month low of $7.50 and a 12-month high of $13.85.
Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its earnings results on Friday, July 21st. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.31. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $773.19 million. Encana Corporation had a positive return on equity of 5.21% and a negative net margin of 3.87%. During the same quarter last year, the company earned $0.10 EPS. On average, equities research analysts forecast that Encana Corporation will post $0.35 earnings per share for the current fiscal year.
A number of analysts have issued reports on the company. Citigroup Inc. reduced their price objective on Encana Corporation from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday. Desjardins set a $13.00 price objective on Encana Corporation and gave the stock a “hold” rating in a research note on Thursday, April 20th. Macquarie downgraded Encana Corporation from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 21st. BidaskClub raised Encana Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Encana Corporation in a research note on Monday, May 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company. Encana Corporation currently has a consensus rating of “Buy” and an average target price of $13.25.
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About Encana Corporation
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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