Shares of Encana Corp (NYSE:ECA) (TSE:ECA) have earned a consensus recommendation of “Buy” from the thirty analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $10.07.
Several equities analysts have commented on ECA shares. Sanford C. Bernstein downgraded shares of Encana from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Citigroup set a $11.00 target price on shares of Encana and gave the stock a “buy” rating in a research report on Friday, May 24th. SunTrust Banks started coverage on shares of Encana in a research report on Tuesday, July 30th. They set a “hold” rating and a $4.00 target price on the stock. TD Securities lowered their target price on shares of Encana from $11.00 to $10.50 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, Morgan Stanley lowered their target price on shares of Encana from $6.50 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th.
Shares of NYSE ECA traded up $0.08 during mid-day trading on Friday, reaching $4.39. The company had a trading volume of 931,010 shares, compared to its average volume of 27,538,166. Encana has a twelve month low of $3.92 and a twelve month high of $13.61. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $5.91 billion, a PE ratio of 5.10, a price-to-earnings-growth ratio of 1.15 and a beta of 2.00. The stock’s 50 day moving average is $4.41 and its 200-day moving average is $5.91.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.0188 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, September 12th. Encana’s dividend payout ratio is currently 9.30%.
In related news, CFO Corey Douglas Code bought 10,000 shares of Encana stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average price of $4.87 per share, for a total transaction of $48,700.00. Following the completion of the purchase, the chief financial officer now owns 42,463 shares in the company, valued at $206,794.81. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce Gordon Waterman bought 50,000 shares of Encana stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average price of $5.06 per share, with a total value of $253,000.00. Following the purchase, the director now owns 250,000 shares of the company’s stock, valued at approximately $1,265,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 135,000 shares of company stock worth $629,000. 0.11% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ECA. Cribstone Capital Management LLC lifted its stake in shares of Encana by 85.9% in the second quarter. Cribstone Capital Management LLC now owns 4,913 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 2,270 shares during the period. Lee Financial Co bought a new position in Encana during the first quarter worth about $26,000. CWM LLC lifted its stake in Encana by 193.5% during the second quarter. CWM LLC now owns 5,268 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 3,473 shares during the period. Beutel Goodman & Co Ltd. bought a new position in Encana during the first quarter worth about $31,000. Finally, Meeder Asset Management Inc. bought a new position in Encana during the first quarter worth about $37,000. Institutional investors and hedge funds own 71.42% 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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