Citigroup Inc. upgraded shares of Encana Corp. (NYSE:ECA) from a neutral rating to a buy rating in a report published on Friday morning. The brokerage currently has $13.00 target price on the stock, up from their prior target price of $10.00.
A number of other research analysts also recently commented on ECA. Zacks Investment Research downgraded shares of Encana Corp. from a buy rating to a hold rating in a research report on Wednesday, July 13th. BMO Capital Markets reaffirmed a buy rating on shares of Encana Corp. in a research report on Wednesday, June 22nd. Scotia Howard Weill downgraded shares of Encana Corp. from a sector perform rating to an underperform rating in a research report on Tuesday, September 20th. RBC Capital Markets reaffirmed a sector perform rating and issued a $10.00 target price (up from $9.00) on shares of Encana Corp. in a research report on Monday, September 12th. Finally, Jefferies Group reaffirmed a buy rating and issued a $12.00 target price on shares of Encana Corp. in a research report on Thursday, June 23rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Encana Corp. has a consensus rating of Hold and an average target price of $10.62.
Encana Corp. (NYSE:ECA) opened at 10.93 on Friday. Encana Corp. has a 12-month low of $3.00 and a 12-month high of $11.10. The company’s market capitalization is $9.29 billion. The stock’s 50 day moving average price is $9.86 and its 200 day moving average price is $8.08.
Encana Corp. (NYSE:ECA) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.19. Encana Corp. had a negative net margin of 81.73% and a positive return on equity of 0.79%. During the same period in the prior year, the firm posted ($0.20) EPS. On average, equities analysts anticipate that Encana Corp. will post ($0.04) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.06 annualized dividend and a yield of 0.55%. Encana Corp.’s dividend payout ratio (DPR) is currently -1.79%.
A number of institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its position in Encana Corp. by 58.3% in the third quarter. BNP Paribas Arbitrage SA now owns 231,104 shares of the company’s stock valued at $2,420,000 after buying an additional 85,116 shares during the period. Eqis Capital Management Inc. acquired a new position in Encana Corp. during the third quarter valued at $171,000. Carnick & Kubik Group LLC acquired a new position in Encana Corp. during the second quarter valued at $154,000. Stifel Financial Corp increased its position in Encana Corp. by 181.2% in the second quarter. Stifel Financial Corp now owns 390,942 shares of the company’s stock valued at $3,045,000 after buying an additional 251,891 shares during the period. Finally, Legal & General Group Plc increased its position in Encana Corp. by 2.1% in the second quarter. Legal & General Group Plc now owns 4,886,413 shares of the company’s stock valued at $37,841,000 after buying an additional 100,674 shares during the period. Hedge funds and other institutional investors own 64.68% of the company’s stock.
Encana Corp. Company Profile
Encana Corp is a Canada-based energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). 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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