Jefferies Group Reaffirms “Buy” Rating for Encana Corp. (ECA)
Encana Corp. (NYSE:ECA)‘s stock had its “buy” rating reissued by equities researchers at Jefferies Group in a research report issued to clients and investors on Tuesday.
Several other research analysts have also issued reports on the company. AltaCorp Capital lowered Encana Corp. from a “sector perform” rating to an “underperform” rating in a research report on Friday, July 22nd. FirstEnergy Capital raised Encana Corp. from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 26th. Macquarie lowered Encana Corp. from a “neutral” rating to an “underperform” rating in a research report on Thursday, June 23rd. KLR Group initiated coverage on Encana Corp. in a research report on Monday, August 29th. They set a “hold” rating and a $10.00 target price on the stock. Finally, Barclays PLC upped their target price on Encana Corp. from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Thursday, July 14th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $9.19.
Encana Corp. (NYSE:ECA) opened at 9.86 on Tuesday. The stock’s market capitalization is $8.38 billion. Encana Corp. has a 52-week low of $3.00 and a 52-week high of $10.75. The stock’s 50 day moving average price is $9.48 and its 200-day moving average price is $7.74.
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Encana Corp. (NYSE:ECA) last announced its earnings results on Thursday, July 21st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.19. Encana Corp. had a positive return on equity of 0.79% and a negative net margin of 81.73%. During the same quarter last year, the company posted ($0.20) EPS. On average, equities analysts expect that Encana Corp. will post ($0.10) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.61%. Encana Corp.’s dividend payout ratio is currently -1.79%.
A number of institutional investors have recently modified their holdings of the company. UBS Asset Management Americas Inc. increased its position in shares of Encana Corp. by 8.6% in the first quarter. UBS Asset Management Americas Inc. now owns 2,120,040 shares of the company’s stock worth $12,982,000 after buying an additional 168,638 shares in the last quarter. BB&T Securities LLC increased its position in shares of Encana Corp. by 22.6% in the first quarter. BB&T Securities LLC now owns 17,754 shares of the company’s stock worth $108,000 after buying an additional 3,270 shares in the last quarter. Credit Agricole S A increased its position in shares of Encana Corp. by 4.3% in the first quarter. Credit Agricole S A now owns 93,980 shares of the company’s stock worth $573,000 after buying an additional 3,867 shares in the last quarter. JVL Advisors L.L.C. increased its position in shares of Encana Corp. by 81.4% in the first quarter. JVL Advisors L.L.C. now owns 868,800 shares of the company’s stock worth $5,291,000 after buying an additional 389,800 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Encana Corp. by 50.1% in the first quarter. Bessemer Group Inc. now owns 60,528 shares of the company’s stock worth $368,000 after buying an additional 20,210 shares in the last quarter. 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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