Encana Corp. (ECA) Stock Rating Reaffirmed by Jefferies Group
Encana Corp. (NYSE:ECA)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group in a report issued on Tuesday. They currently have a $13.00 price target on the stock. Jefferies Group’s price target would indicate a potential upside of 42.70% from the stock’s previous close.
ECA has been the topic of several other reports. Barclays PLC cut their price target on shares of Encana Corp. from $8.00 to $6.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 1st. Deutsche Bank AG lifted their price target on shares of Encana Corp. from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $10.00 price target (up from $9.00) on shares of Encana Corp. in a report on Monday, September 12th. KLR Group began coverage on shares of Encana Corp. in a report on Monday, August 29th. They issued a “hold” rating and a $10.00 price target on the stock. Finally, FirstEnergy Capital raised shares of Encana Corp. from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 26th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $9.37.
Shares of Encana Corp. (NYSE:ECA) traded down 7.61% during trading on Tuesday, reaching $9.11. The company had a trading volume of 101,682,573 shares. The stock’s market capitalization is $7.74 billion. The company’s 50 day moving average is $9.48 and its 200-day moving average is $7.74. Encana Corp. has a 1-year low of $3.00 and a 1-year high of $10.75.
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Encana Corp. (NYSE:ECA) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.19. Encana Corp. had a negative net margin of 81.73% and a positive return on equity of 0.79%. During the same period in the prior year, the business earned ($0.20) earnings per share. On average, equities research analysts anticipate that Encana Corp. will post ($0.10) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a $0.015 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.66%. Encana Corp.’s dividend payout ratio (DPR) is currently -1.79%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BB&T Securities LLC increased its position in Encana Corp. by 22.6% in the first quarter. BB&T Securities LLC now owns 17,754 shares of the company’s stock valued at $108,000 after buying an additional 3,270 shares during the period. Loomis Sayles & Co. L P increased its position in Encana Corp. by 39.6% in the first quarter. Loomis Sayles & Co. L P now owns 21,274 shares of the company’s stock valued at $130,000 after buying an additional 6,036 shares during the period. Carnick & Kubik Group LLC bought a new position in Encana Corp. during the second quarter valued at $154,000. Stevens Capital Management LP bought a new position in Encana Corp. during the second quarter valued at $165,000. Finally, Advisor Group Inc. bought a new position in Encana Corp. during the second quarter valued at $182,000. Hedge funds and other institutional investors own 64.69% of the company’s stock.
Encana Corp. Company Profile
Encana Corp is a Canada-based energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). The Company’s operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America.
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