Encana (ECA) Given “Buy” Rating at Citigroup

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Citigroup restated their buy rating on shares of Encana (NYSE:ECA) (TSE:ECA) in a research report sent to investors on Monday, Marketbeat reports. Citigroup currently has a $13.00 target price on the oil and gas company’s stock.

Several other research analysts have also recently commented on the company. TheStreet raised Encana from a d+ rating to a c+ rating in a research report on Thursday, March 14th. Cowen upgraded Encana from a market perform rating to an outperform rating and set a $10.00 price objective for the company in a research note on Monday, March 11th. They noted that the move was a valuation call. CSFB reiterated an outperform rating and set a $10.00 price objective on shares of Encana in a research note on Thursday, March 7th. Credit Suisse Group assumed coverage on Encana in a research note on Thursday, March 7th. They set an outperform rating and a $10.00 price objective for the company. Finally, Goldman Sachs Group assumed coverage on Encana in a research note on Tuesday, March 5th. They set a buy rating and a $9.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $11.81.

Shares of ECA stock opened at $7.38 on Monday. The firm has a market capitalization of $7.11 billion, a P/E ratio of 8.58, a PEG ratio of 0.43 and a beta of 2.10. Encana has a one year low of $5.00 and a one year high of $14.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.13 and a quick ratio of 1.13.

Encana (NYSE:ECA) (TSE:ECA) last issued its earnings results on Thursday, February 28th. The oil and gas company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.12 by $0.20. Encana had a return on equity of 12.08% and a net margin of 18.00%. As a group, sell-side analysts predict that Encana will post 0.76 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $0.019 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Encana’s previous quarterly dividend of $0.02. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.03%. Encana’s dividend payout ratio (DPR) is 9.30%.

In other Encana news, Director Suzanne P. Nimocks bought 10,000 shares of the stock in a transaction dated Friday, March 8th. The stock was bought at an average cost of $6.65 per share, for a total transaction of $66,500.00. Following the completion of the purchase, the director now owns 25,600 shares in the company, valued at approximately $170,240. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Gerard Mcallister bought 5,200 shares of the stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average price of $6.97 per share, with a total value of $36,244.00. Following the completion of the purchase, the chief operating officer now owns 36,377 shares of the company’s stock, valued at approximately $253,547.69. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Encana by 24.5% in the third quarter. BlackRock Inc. now owns 27,563,490 shares of the oil and gas company’s stock valued at $361,359,000 after acquiring an additional 5,428,023 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Encana by 2.2% in the third quarter. Vanguard Group Inc. now owns 26,398,158 shares of the oil and gas company’s stock valued at $346,081,000 after acquiring an additional 561,436 shares during the last quarter. Vanguard Group Inc boosted its holdings in Encana by 2.2% in the third quarter. Vanguard Group Inc now owns 26,398,158 shares of the oil and gas company’s stock valued at $346,081,000 after acquiring an additional 561,436 shares during the last quarter. Letko Brosseau & Associates Inc. boosted its holdings in Encana by 48.8% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 23,139,444 shares of the oil and gas company’s stock valued at $133,503,000 after acquiring an additional 7,590,059 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Encana by 83.5% in the fourth quarter. Mackenzie Financial Corp now owns 21,176,898 shares of the oil and gas company’s stock valued at $122,402,000 after acquiring an additional 9,633,795 shares during the last quarter. Institutional investors own 76.52% of the company’s stock.

About Encana

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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