Encana Corporation (NYSE:ECA) (TSE:ECA) – Stock analysts at Jefferies Group decreased their Q3 2017 earnings estimates for Encana Corporation in a research report issued to clients and investors on Monday. Jefferies Group analyst Z. Parham now forecasts that the oil and gas company will post earnings of $0.08 per share for the quarter, down from their previous estimate of $0.09. Jefferies Group has a “Buy” rating and a $12.00 price objective on the stock. Jefferies Group also issued estimates for Encana Corporation’s FY2017 earnings at $0.52 EPS, Q4 2018 earnings at $0.23 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.27 EPS and FY2019 earnings at $1.06 EPS.
Encana Corporation (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.15. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $773.19 million. During the same period in the previous year, the business earned $0.10 earnings per share.
Several other research analysts also recently commented on ECA. UBS AG raised shares of Encana Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, July 5th. BidaskClub downgraded shares of Encana Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Canaccord Genuity set a $14.00 price objective on shares of Encana Corporation and gave the stock a “buy” rating in a report on Tuesday, June 20th. GMP Securities reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Encana Corporation in a report on Friday, September 29th. Finally, TD Securities reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Encana Corporation in a report on Sunday, October 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $13.43.
Shares of Encana Corporation (NYSE ECA) opened at 11.37 on Wednesday. The firm has a market capitalization of $11.06 billion, a P/E ratio of 13.55 and a beta of 2.12. The stock has a 50 day moving average of $10.40 and a 200-day moving average of $10.18. Encana Corporation has a 52-week low of $8.01 and a 52-week high of $13.85.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Thursday, September 14th. Encana Corporation’s payout ratio is presently 6.98%.
A number of large investors have recently modified their holdings of ECA. Bank of New York Mellon Corp raised its position in Encana Corporation by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,283,837 shares of the oil and gas company’s stock worth $15,034,000 after purchasing an additional 58,456 shares during the period. Envestnet Asset Management Inc. raised its position in Encana Corporation by 17.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 32,319 shares of the oil and gas company’s stock worth $378,000 after purchasing an additional 4,699 shares during the period. JPMorgan Chase & Co. raised its position in Encana Corporation by 6.2% in the 1st quarter. JPMorgan Chase & Co. now owns 510,961 shares of the oil and gas company’s stock worth $5,983,000 after purchasing an additional 29,647 shares during the period. Stifel Financial Corp raised its position in Encana Corporation by 2.6% in the 1st quarter. Stifel Financial Corp now owns 124,075 shares of the oil and gas company’s stock worth $1,462,000 after purchasing an additional 3,164 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Encana Corporation in the 1st quarter worth $166,000. Institutional investors own 66.76% of the company’s stock.
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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