Encana Corp (NYSE:ECA) (TSE:ECA) – Jefferies Financial Group boosted their Q2 2018 EPS estimates for Encana in a report released on Monday, June 11th. Jefferies Financial Group analyst Z. Parham now anticipates that the oil and gas company will post earnings per share of $0.12 for the quarter, up from their prior forecast of $0.09. Jefferies Financial Group currently has a “Buy” rating and a $16.00 price target on the stock. Jefferies Financial Group also issued estimates for Encana’s Q3 2018 earnings at $0.21 EPS, Q4 2018 earnings at $0.31 EPS, FY2018 earnings at $0.80 EPS, Q1 2019 earnings at $0.45 EPS, Q2 2019 earnings at $0.39 EPS, Q3 2019 earnings at $0.33 EPS, Q4 2019 earnings at $0.37 EPS, FY2019 earnings at $1.53 EPS and FY2020 earnings at $1.64 EPS.
A number of other analysts have also recently weighed in on ECA. TD Securities decreased their price objective on Encana from $16.50 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, May 2nd. GMP Securities reaffirmed a “buy” rating and set a $15.50 price objective on shares of Encana in a research report on Friday, February 23rd. ValuEngine cut Encana from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Tudor Pickering cut Encana from a “buy” rating to a “hold” rating in a report on Thursday, May 10th. Finally, UBS Group began coverage on Encana in a report on Wednesday, March 7th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Encana has an average rating of “Buy” and a consensus price target of $15.46.
Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Tuesday, May 1st. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.11 billion. Encana had a return on equity of 6.96% and a net margin of 12.24%.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.47%. The ex-dividend date is Thursday, June 14th. Encana’s payout ratio is 13.95%.
Encana announced that its Board of Directors has approved a share buyback plan on Thursday, February 15th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
A number of institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its position in Encana by 10.7% during the first quarter. Envestnet Asset Management Inc. now owns 42,317 shares of the oil and gas company’s stock worth $467,000 after buying an additional 4,082 shares in the last quarter. IFP Advisors Inc increased its position in Encana by 14.6% during the first quarter. IFP Advisors Inc now owns 48,765 shares of the oil and gas company’s stock worth $536,000 after buying an additional 6,210 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Encana by 2.2% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 296,467 shares of the oil and gas company’s stock worth $3,952,000 after buying an additional 6,475 shares in the last quarter. Wetherby Asset Management Inc. increased its position in Encana by 28.3% during the first quarter. Wetherby Asset Management Inc. now owns 34,622 shares of the oil and gas company’s stock worth $381,000 after buying an additional 7,640 shares in the last quarter. Finally, Atria Investments LLC increased its position in Encana by 26.9% during the first quarter. Atria Investments LLC now owns 38,335 shares of the oil and gas company’s stock worth $422,000 after buying an additional 8,131 shares in the last quarter. 66.50% of the stock is owned by institutional investors.
Encana Company Profile
Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company holds interests in various assets, including the Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.
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