Scotia Howard Weill Lowers Encana Corp. (ECA) to Underperform
Encana Corp. (NYSE:ECA) was downgraded by equities research analysts at Scotia Howard Weill from a “sector perform” rating to an “underperform” rating in a research note issued to investors on Tuesday.
ECA has been the subject of several other reports. Barclays PLC reduced their price target on Encana Corp. from $8.00 to $6.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 1st. Deutsche Bank AG boosted their price objective on Encana Corp. from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, June 14th. Scotiabank cut Encana Corp. from a “sector perform” rating to an “underperform” rating in a research report on Tuesday. RBC Capital Markets restated a “sector perform” rating and issued a $10.00 price objective (up from $9.00) on shares of Encana Corp. in a research report on Monday, September 12th. Finally, Jefferies Group restated a “buy” rating and issued a $13.00 price objective on shares of Encana Corp. in a research report on Tuesday. Five analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $9.37.
Encana Corp. (NYSE:ECA) traded down 6.440% during mid-day trading on Tuesday, reaching $9.225. The company had a trading volume of 65,688,949 shares. The stock’s market capitalization is $7.84 billion. The stock has a 50 day moving average of $9.48 and a 200 day moving average of $7.74. Encana Corp. has a 52 week low of $3.00 and a 52 week high of $10.75.
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Encana Corp. (NYSE:ECA) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.10 earnings per share for the quarter, beating the 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 in the previous year, the company earned ($0.20) earnings per share. 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. Investors of record on Thursday, September 15th will be issued a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.61%. Encana Corp.’s dividend payout ratio is presently -1.79%.
Large investors have recently bought and sold shares of the stock. BB&T Securities LLC increased its stake 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 in the last quarter. Carnick & Kubik Group LLC purchased a new stake in Encana Corp. during the second quarter valued at about $154,000. Stevens Capital Management LP purchased a new stake in Encana Corp. during the second quarter valued at about $165,000. Loomis Sayles & Co. L P increased its stake 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 in the last quarter. Finally, Advisor Group Inc. purchased a new stake in Encana Corp. during the second quarter valued at about $182,000. Hedge funds and other institutional investors own 64.69% of the company’s stock.
About Encana Corp.
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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