Encana Corp. (NYSE:ECA) had its price target hoisted by Deutsche Bank AG from $13.00 to $15.00 in a report issued on Thursday morning, StockTargetPrices.com reports. They currently have a buy rating on the stock.
A number of other equities analysts have also recently commented on the company. Credit Suisse Group AG began coverage on Encana Corp. in a research note on Thursday, October 6th. They issued an outperform rating and a $14.00 price target on the stock. Macquarie raised Encana Corp. from an underperform rating to a neutral rating in a research note on Thursday, October 6th. GMP Securities raised Encana Corp. from a hold rating to a buy rating and set a $13.00 price target on the stock in a research note on Thursday, October 6th. Jefferies Group lifted their price target on Encana Corp. from $13.00 to $14.00 and gave the stock a buy rating in a research note on Thursday, October 6th. Finally, CIBC upgraded Encana Corp. to a sector perform rating and lifted their price objective for the stock from $8.00 to $12.00 in a research report on Friday, September 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $11.88.
Shares of Encana Corp. (NYSE:ECA) opened at 11.08 on Thursday. The stock’s 50 day moving average price is $9.97 and its 200 day moving average price is $8.22. The company’s market capitalization is $9.42 billion. Encana Corp. has a 12-month low of $3.00 and a 12-month high of $11.31.
Encana Corp. (NYSE:ECA) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate 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 period in the previous year, the company posted ($0.20) EPS. On average, equities research analysts forecast that Encana Corp. will post ($0.04) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Tuesday, September 13th. Encana Corp.’s dividend payout ratio is currently -1.79%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Encana Corp. during the fourth quarter valued at $33,438,000. Virginia Retirement System purchased a new stake in Encana Corp. during the first quarter worth approximately $1,500,000. BlackRock Inc. boosted its stake in 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 stake in 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 purchased a new stake in Encana Corp. during the first quarter worth approximately $727,000. Hedge funds and other institutional investors own 57.44% of the company’s stock.
About Encana Corp.
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.
Receive News & Ratings for Encana Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encana Corp. and related companies with MarketBeat.com's FREE daily email newsletter.