Encana Corp. (ECA) Given a $11.00 Price Target by Morgan Stanley Analysts
Encana Corp. (NYSE:ECA) has been assigned a $11.00 price target by equities researchers at Morgan Stanley in a report released on Tuesday. The firm currently has a a “hold” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 20.75% from the company’s current price.
A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered Encana Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Scotia Howard Weill downgraded Encana Corp. from a “sector perform” rating to an “underperform” rating in a research note on Tuesday. Scotiabank downgraded Encana Corp. from a “sector perform” rating to an “underperform” rating in a research note on Tuesday. Jefferies Group restated a “buy” rating and issued a $13.00 target price on shares of Encana Corp. in a research note on Tuesday. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $10.00 target price (up previously from $9.00) on shares of Encana Corp. in a research note on Monday, September 12th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $9.71.
Encana Corp. (NYSE:ECA) traded up 2.09% during mid-day trading on Tuesday, reaching $9.30. The company’s stock had a trading volume of 33,575,838 shares. The firm’s 50 day moving average is $9.52 and its 200-day moving average is $7.76. The company’s market cap is $7.90 billion. Encana Corp. has a 12-month low of $3.00 and a 12-month high of $10.75.
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Encana Corp. (NYSE:ECA) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the firm earned ($0.20) EPS. Equities analysts anticipate that Encana Corp. will post ($0.10) earnings per share for the current fiscal year.
The business also recently declared 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 is Tuesday, September 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.66%. Encana Corp.’s dividend payout ratio is presently -1.79%.
Several large investors have recently bought and sold shares of ECA. BB&T Securities LLC boosted 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. Loomis Sayles & Co. L P boosted 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 during the period. Carnick & Kubik Group LLC acquired a new stake in Encana Corp. during the second quarter valued at about $154,000. Stevens Capital Management LP acquired a new stake in Encana Corp. during the second quarter valued at about $165,000. Finally, Advisor Group Inc. acquired a new stake in Encana Corp. during the second quarter valued at about $182,000. 64.68% of the stock is owned by hedge funds and other institutional investors.
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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