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 given 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 0.60%. The ex-dividend date of this dividend is Thursday, September 14th.
Encana Corporation has decreased its dividend payment by an average of 55.3% annually over the last three years. Encana Corporation has a payout ratio of 15.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Encana Corporation to earn $0.66 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 9.1%.
Encana Corporation (NYSE:ECA) remained flat at $10.06 during mid-day trading on Tuesday. The stock had a trading volume of 5,402,537 shares. Encana Corporation has a 12-month low of $7.63 and a 12-month high of $13.85. The stock has a 50-day moving average price of $9.15 and a 200 day moving average price of $10.82. The firm has a market capitalization of $9.79 billion, a PE ratio of 11.99 and a beta of 2.02.
Encana Corporation (NYSE:ECA) (TSE:ECA) last announced its earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.15. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $773.19 million. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. During the same period in the prior year, the company earned $0.10 EPS. On average, equities research analysts anticipate that Encana Corporation will post $0.50 earnings per share for the current year.
A number of analysts recently weighed in on ECA shares. Jefferies Group LLC set a $14.00 price objective on shares of Encana Corporation and gave the stock a “buy” rating in a research report on Wednesday, May 17th. Canaccord Genuity reissued a “buy” rating and issued a $14.00 price objective on shares of Encana Corporation in a research report on Tuesday, April 11th. Raymond James Financial, Inc. started coverage on shares of Encana Corporation in a research report on Wednesday, May 31st. They issued an “outperform” rating and a $15.00 price objective on the stock. Barclays PLC reissued an “overweight” rating and issued a $12.00 price objective (down from $15.00) on shares of Encana Corporation in a research report on Saturday, April 22nd. Finally, Scotiabank increased their price objective on shares of Encana Corporation from $11.00 to $12.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $13.32.
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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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