A number of other research analysts also recently issued reports on ECA. Zacks Investment Research downgraded shares of Encana Corp. from a buy rating to a hold rating in a research note on Wednesday, July 13th. BMO Capital Markets reiterated a buy rating on shares of Encana Corp. in a research note on Wednesday, June 22nd. Scotia Howard Weill downgraded shares of Encana Corp. from a sector perform rating to an underperform rating in a research note on Tuesday, September 20th. RBC Capital Markets reiterated 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, Jefferies Group reiterated a buy rating and issued a $12.00 price target on shares of Encana Corp. in a research note on Thursday, June 23rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $11.11.
Encana Corp. (NYSE:ECA) traded down 0.93% during mid-day trading on Thursday, hitting $10.63. 9,585,143 shares of the stock traded hands. The company has a 50 day moving average of $9.90 and a 200-day moving average of $8.10. The stock’s market cap is $9.03 billion. Encana Corp. has a 12-month low of $3.00 and a 12-month high of $11.23.
Encana Corp. (NYSE:ECA) last issued its quarterly 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 negative net margin of 81.73% and a positive return on equity of 0.79%. During the same period in the prior year, the company earned ($0.20) earnings per share. Equities research analysts forecast that Encana Corp. will post ($0.04) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders 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 annualized dividend and a yield of 0.56%. Encana Corp.’s dividend payout ratio is -1.79%.
A number of hedge funds have recently added to or reduced their stakes in ECA. Vanguard Group Inc. raised its position in shares of Encana Corp. by 9.8% in the second quarter. Vanguard Group Inc. now owns 17,708,640 shares of the company’s stock worth $137,950,000 after buying an additional 1,585,668 shares during the period. BlackRock Group LTD raised 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. Point72 Asset Management L.P. purchased a new position in shares of Encana Corp. during the second quarter worth $54,865,000. Norges Bank purchased a new position in shares of Encana Corp. during the fourth quarter worth $33,438,000. Finally, Key Group Holdings Cayman LTD. purchased a new position in shares of Encana Corp. during the second quarter worth $39,161,000. 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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