Encana Corporation (ECA) Stock Rating Reaffirmed by Desjardins

Desjardins reissued their hold rating on shares of Encana Corporation (NYSE:ECA) (TSE:ECA) in a research report report published on Tuesday, July 25th. They currently have a $13.50 price target on the oil and gas company’s stock.

Other analysts have also issued research reports about the stock. TD Securities raised shares of Encana Corporation from a hold rating to a buy rating and set a $11.50 target price on the stock in a report on Friday, June 30th. UBS AG raised shares of Encana Corporation from an outperform rating to a strong-buy rating in a report on Wednesday, July 5th. Raymond James Financial, Inc. boosted their price target on shares of Encana Corporation from $14.00 to $15.00 and gave the stock a strong-buy rating in a research note on Monday, July 24th. GMP Securities reissued a buy rating on shares of Encana Corporation in a research note on Wednesday, June 14th. Finally, Macquarie cut shares of Encana Corporation from an outperform rating to a neutral rating in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, eight have issued 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 an average price target of $13.32.

Encana Corporation (ECA) traded up 1.36% on Tuesday, hitting $9.69. 7,309,171 shares of the stock were exchanged. The company has a 50-day moving average price of $9.38 and a 200 day moving average price of $10.65. The company has a market capitalization of $9.43 billion, a PE ratio of 11.55 and a beta of 2.04. Encana Corporation has a 1-year low of $8.01 and a 1-year high of $13.85.

Encana Corporation (NYSE:ECA) (TSE:ECA) last posted its earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.15. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $773.19 million. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. During the same quarter in the prior year, the firm posted $0.10 EPS. Analysts anticipate that Encana Corporation will post $0.50 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 14th. Encana Corporation’s dividend payout ratio (DPR) is 6.98%.

A number of hedge funds have recently made changes to their positions in the stock. Virtu KCG Holdings LLC increased its stake in shares of Encana Corporation by 157.4% in the second quarter. Virtu KCG Holdings LLC now owns 289,096 shares of the oil and gas company’s stock valued at $2,544,000 after buying an additional 176,772 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Encana Corporation by 0.3% in the second quarter. Parametric Portfolio Associates LLC now owns 994,503 shares of the oil and gas company’s stock valued at $8,752,000 after buying an additional 2,560 shares during the period. Advisor Group Inc. increased its stake in shares of Encana Corporation by 28.9% in the second quarter. Advisor Group Inc. now owns 43,067 shares of the oil and gas company’s stock valued at $380,000 after buying an additional 9,663 shares during the period. Quantbot Technologies LP increased its stake in shares of Encana Corporation by 65.5% in the second quarter. Quantbot Technologies LP now owns 100,518 shares of the oil and gas company’s stock valued at $884,000 after buying an additional 39,769 shares during the period. Finally, MML Investors Services LLC increased its stake in shares of Encana Corporation by 55.0% in the second quarter. MML Investors Services LLC now owns 39,527 shares of the oil and gas company’s stock valued at $348,000 after buying an additional 14,028 shares during the period. 73.10% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Encana Corporation (NYSE:ECA)

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