Encana Short Interest Down 16.7% in April (ECA)
Shares of Encana (NYSE:ECA) saw a significant decline in short interest in April. As of April 30th, there was short interest totalling 15,293,443 shares, a decline of 16.7% from the April 15th total of 18,364,432 shares, AmericanBankingNews.com reports. Approximately 2.1% of the company’s stock are sold short. Based on an average trading volume of 4,882,304 shares, the short-interest ratio is currently 3.1 days.
Several analysts have recently commented on the stock. Analysts at TheStreet upgraded shares of Encana from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Encana in a research note on Tuesday, May 13th. They now have a $23.00 price target on the stock, up previously from $20.00. Finally, analysts at Deutsche Bank raised their price target on shares of Encana from C$26.00 to C$30.00 in a research note on Thursday, May 8th. They now have a “hold” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.91.
Encana (NYSE:ECA) opened at 22.95 on Monday. Encana has a one year low of $16.48 and a one year high of $23.93. The stock has a 50-day moving average of $22.80 and a 200-day moving average of $19.85. The company has a market cap of $17.006 billion and a price-to-earnings ratio of 21.75.
Encana (NYSE:ECA) last announced its earnings results on Tuesday, May 13th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.53 by $0.17. During the same quarter in the prior year, the company posted $0.24 earnings per share. On average, analysts predict that Encana will post $1.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, June 11th.
Encana Corporation (NYSE:ECA) is a North American energy producer.
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