Encana Corp (NYSE:ECA) (TSE:ECA) – Equities researchers at Jefferies Financial Group cut their Q3 2019 EPS estimates for shares of Encana in a research note issued to investors on Monday, July 15th. Jefferies Financial Group analyst Z. Parham now forecasts that the oil and gas company will earn $0.15 per share for the quarter, down from their prior forecast of $0.18. Jefferies Financial Group also issued estimates for Encana’s Q4 2019 earnings at $0.16 EPS, FY2019 earnings at $0.60 EPS, Q1 2020 earnings at $0.11 EPS, Q2 2020 earnings at $0.10 EPS, Q3 2020 earnings at $0.12 EPS, Q4 2020 earnings at $0.13 EPS, FY2020 earnings at $0.45 EPS, Q1 2021 earnings at $0.14 EPS, Q2 2021 earnings at $0.13 EPS and FY2021 earnings at $0.57 EPS.
ECA has been the topic of several other research reports. Raymond James reiterated an “average” rating and issued a $16.00 price objective on shares of Aeroflex in a research note on Wednesday, May 1st. JPMorgan Chase & Co. set a €118.00 ($137.21) price objective on shares of Deutsche Boerse and gave the company a “neutral” rating in a research note on Monday, April 29th. Citigroup set a $27.00 price objective on shares of PhaseBio Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, May 24th. Goldman Sachs Group lowered shares of Encana to a “buy” rating in a research note on Friday, April 12th. Finally, Sanford C. Bernstein lowered shares of Encana from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $11.11.
Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.05. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. Encana had a net margin of 11.48% and a return on equity of 10.79%. During the same quarter in the prior year, the business earned $0.16 EPS.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.0188 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.08 annualized dividend and a dividend yield of 1.72%. Encana’s dividend payout ratio (DPR) is 9.30%.
In other news, COO Michael Gerard Mcallister bought 5,650 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $6.52 per share, for a total transaction of $36,838.00. Following the purchase, the chief operating officer now owns 42,027 shares of the company’s stock, valued at approximately $274,016.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Corey Douglas Code bought 10,800 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $6.00 per share, for a total transaction of $64,800.00. Following the completion of the purchase, the chief financial officer now directly owns 32,463 shares in the company, valued at approximately $194,778. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 111,450 shares of company stock worth $585,738. 0.11% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Wedbush Securities Inc. grew its stake in Encana by 11.6% in the 1st quarter. Wedbush Securities Inc. now owns 27,258 shares of the oil and gas company’s stock valued at $197,000 after buying an additional 2,829 shares during the last quarter. Highland Capital Management LLC grew its stake in Encana by 2.1% in the 1st quarter. Highland Capital Management LLC now owns 138,350 shares of the oil and gas company’s stock valued at $1,002,000 after buying an additional 2,850 shares during the last quarter. Commonwealth Bank of Australia grew its stake in Encana by 2.1% in the 1st quarter. Commonwealth Bank of Australia now owns 143,864 shares of the oil and gas company’s stock valued at $1,039,000 after buying an additional 3,000 shares during the last quarter. Parallel Advisors LLC grew its stake in Encana by 168.5% in the 1st quarter. Parallel Advisors LLC now owns 5,121 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 3,214 shares during the last quarter. Finally, Waverton Investment Management Ltd boosted its holdings in Encana by 6.4% in the 2nd quarter. Waverton Investment Management Ltd now owns 56,413 shares of the oil and gas company’s stock valued at $289,000 after purchasing an additional 3,387 shares during the period. Institutional investors and hedge funds own 70.23% 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. It holds interests in various assets, including the Montney in northeast 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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