Encana (ECA) Downgraded by ValuEngine

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ValuEngine downgraded shares of Encana (NYSE:ECA) (TSE:ECA) from a hold rating to a sell rating in a report released on Friday morning.

A number of other equities analysts have also recently commented on the stock. Bank of America started coverage on shares of Encana in a research note on Tuesday, September 18th. They issued a buy rating and a $19.00 price objective for the company. TD Securities set a $17.00 price objective on shares of Encana and gave the stock a buy rating in a research note on Wednesday, August 1st. Zacks Investment Research raised shares of Encana from a hold rating to a buy rating and set a $15.00 price objective for the company in a research note on Wednesday, July 18th. Desjardins reissued a buy rating and issued a $17.00 price objective on shares of Encana in a research note on Friday, July 27th. Finally, National Bank Financial lifted their price objective on shares of Encana from $18.00 to $22.00 and gave the stock a $12.96 rating in a research note on Wednesday, July 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Encana has an average rating of Buy and a consensus price target of $16.30.

Shares of NYSE:ECA traded down $0.04 on Friday, reaching $11.29. The company’s stock had a trading volume of 15,512,828 shares, compared to its average volume of 8,882,944. Encana has a 52-week low of $9.79 and a 52-week high of $14.31. The stock has a market capitalization of $12.51 billion, a P/E ratio of 26.26, a PEG ratio of 1.26 and a beta of 2.02. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.57.

Encana (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09. Encana had a net margin of 1.49% and a return on equity of 7.30%. The business had revenue of $983.00 million during the quarter, compared to analysts’ expectations of $1.14 billion. On average, analysts expect that Encana will post 0.69 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend was Thursday, September 13th. This is a positive change from Encana’s previous quarterly dividend of $0.02. Encana’s dividend payout ratio (DPR) is 13.95%.

Several institutional investors have recently added to or reduced their stakes in ECA. Clinton Group Inc. bought a new stake in shares of Encana in the 2nd quarter worth about $131,000. Advisor Partners LLC bought a new stake in shares of Encana in the 2nd quarter worth about $134,000. Financial Gravity Wealth Inc. bought a new stake in Encana during the 1st quarter valued at about $142,000. Suntrust Banks Inc. bought a new stake in Encana during the 1st quarter valued at about $165,000. Finally, Fox Run Management L.L.C. bought a new stake in Encana during the 3rd quarter valued at about $196,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

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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Analyst Recommendations for Encana (NYSE:ECA)

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