Encana Corp. (NYSE:ECA) – Equities researchers at Jefferies Group increased their FY2016 earnings estimates for Encana Corp. in a research report issued on Wednesday. Jefferies Group analyst J. Wolff now expects that the firm will earn $0.00 per share for the year, up from their previous estimate of ($0.02). Jefferies Group has a “Buy” rating and a $14.00 price target on the stock. Jefferies Group also issued estimates for Encana Corp.’s Q4 2016 earnings at $0.04 EPS.
A number of other brokerages also recently weighed in on ECA. Deutsche Bank AG lifted their target price on Encana Corp. from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. Macquarie downgraded Encana Corp. from a “neutral” rating to an “underperform” rating in a report on Thursday, June 23rd. BMO Capital Markets reiterated a “buy” rating on shares of Encana Corp. in a report on Wednesday, June 22nd. AltaCorp Capital downgraded Encana Corp. from an “outperform” rating to a “speculative” rating in a report on Thursday, July 7th. Finally, Zacks Investment Research downgraded Encana Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Encana Corp. has a consensus rating of “Hold” and a consensus price target of $11.88.
Shares of Encana Corp. (NYSE:ECA) opened at 11.08 on Monday. The stock has a 50 day moving average price of $9.97 and a 200 day moving average price of $8.22. Encana Corp. has a 12-month low of $3.00 and a 12-month high of $11.31. The firm’s market cap is $9.42 billion.
Encana Corp. (NYSE:ECA) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.10 EPS for the quarter, beating the 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 prior year, the firm posted ($0.20) earnings per share.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Encana Corp. by 9.8% in the second quarter. Vanguard Group Inc. now owns 17,708,640 shares of the company’s stock valued at $137,950,000 after buying an additional 1,585,668 shares in the last quarter. BlackRock Group LTD boosted its position 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 valued at $80,074,000 after buying an additional 12,978,536 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Encana Corp. during the second quarter valued at $54,865,000. Norges Bank purchased a new position in shares of Encana Corp. during the fourth quarter worth approximately $33,438,000. Finally, Key Group Holdings Cayman LTD. purchased a new position in shares of Encana Corp. during the second quarter worth approximately $39,161,000. 57.44% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a $0.015 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.06 annualized dividend and a yield of 0.54%. Encana Corp.’s dividend payout ratio is currently -1.79%.
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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