Equities research analysts forecast that Encana Corp (NYSE:ECA) (TSE:ECA) will post earnings per share (EPS) of $0.11 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Encana’s earnings, with estimates ranging from $0.01 to $0.19. Encana posted earnings per share of $0.09 in the same quarter last year, which would suggest a positive year over year growth rate of 22.2%. The company is expected to report its next earnings results on Thursday, February 15th.
According to Zacks, analysts expect that Encana will report full year earnings of $0.43 per share for the current fiscal year, with EPS estimates ranging from $0.39 to $0.51. For the next year, analysts anticipate that the business will post earnings of $0.68 per share, with EPS estimates ranging from $0.34 to $1.00. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Encana.
A number of brokerages recently commented on ECA. Scotiabank raised their target price on Encana from $12.00 to $13.00 and gave the company a “sector perform” rating in a report on Thursday, October 19th. GMP Securities restated a “buy” rating and set a $16.00 target price on shares of Encana in a report on Friday, September 29th. National Bank Financial lifted their price objective on Encana from $14.00 to $14.50 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Sanford C. Bernstein upgraded Encana from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $10.00 to $14.00 in a research note on Friday, September 15th. Finally, Zacks Investment Research upgraded Encana from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $14.43.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.45%. The ex-dividend date was Thursday, December 14th. Encana’s payout ratio is 7.50%.
A number of hedge funds have recently bought and sold shares of ECA. Stevens Capital Management LP purchased a new stake in Encana during the second quarter worth approximately $102,000. Gotham Asset Management LLC purchased a new stake in Encana during the second quarter worth approximately $109,000. Commerce Bank purchased a new stake in Encana during the third quarter worth approximately $118,000. First Allied Advisory Services Inc. lifted its stake in Encana by 13.3% during the second quarter. First Allied Advisory Services Inc. now owns 13,351 shares of the oil and gas company’s stock worth $119,000 after purchasing an additional 1,567 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Encana during the second quarter worth approximately $128,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.
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Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. 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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