Encana Corp. (NYSE:ECA) had its target price boosted by Jefferies Group from $13.00 to $14.00 in a research report sent to investors on Thursday morning. The brokerage currently has a buy rating on the stock.
Other equities analysts have also recently issued research reports about the company. BMO Capital Markets reissued a buy rating and issued a $10.00 price target on shares of Encana Corp. in a research note on Friday, July 22nd. Zacks Investment Research cut Encana Corp. from a buy rating to a hold rating in a research note on Wednesday, July 13th. Citigroup Inc. raised Encana Corp. from a neutral rating to a buy rating and lifted their price target for the stock from $10.00 to $13.00 in a research note on Friday, September 30th. RBC Capital Markets reissued a sector perform rating and issued a $10.00 price target (up previously from $9.00) on shares of Encana Corp. in a research note on Monday, September 12th. Finally, AltaCorp Capital cut Encana Corp. from a sector perform rating to an underperform rating in a research note on Friday, July 22nd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $11.11.
Encana Corp. (NYSE:ECA) traded down 0.979% during mid-day trading on Thursday, reaching $10.625. 9,595,502 shares of the company were exchanged. The stock’s 50-day moving average is $9.90 and its 200-day moving average is $8.10. Encana Corp. has a 12 month low of $3.00 and a 12 month high of $11.23. The company’s market cap is $9.03 billion.
Encana Corp. (NYSE:ECA) last released its earnings results on Thursday, July 21st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.19. Encana Corp. had a positive return on equity of 0.79% and a negative net margin of 81.73%. During the same quarter last year, the company earned ($0.20) EPS. Equities analysts expect that Encana Corp. will post ($0.04) earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a $0.015 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.56%. Encana Corp.’s dividend payout ratio is presently -1.79%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Encana Corp. during the fourth quarter worth approximately $33,438,000. Virginia Retirement System bought a new position in shares of Encana Corp. during the first quarter worth about $1,500,000. BlackRock Inc. boosted its position in shares of Encana Corp. by 7,416.7% in the first quarter. BlackRock Inc. now owns 473,551 shares of the company’s stock worth $2,884,000 after buying an additional 467,251 shares during the period. BlackRock Group LTD boosted its position in shares of Encana Corp. by 7,634.4% in the first quarter. BlackRock Group LTD now owns 13,148,536 shares of the company’s stock worth $80,074,000 after buying an additional 12,978,536 shares during the period. Finally, Tobam bought a new position in shares of Encana Corp. during the first quarter worth about $727,000. 64.68% of the stock is currently owned by institutional investors and hedge funds.
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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