Encana Corp. (ECA) Sees Strong Trading Volume
Shares of Encana Corp. (NYSE:ECA) saw strong trading volume on Wednesday . 23,977,684 shares were traded during trading, an increase of 42% from the previous session’s volume of 16,834,714 shares.The stock last traded at $9.25 and had previously closed at $9.11.
A number of research firms recently commented on ECA. Zacks Investment Research lowered Encana Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Encana Corp. in a research note on Friday, July 22nd. Morgan Stanley set a $11.00 price objective on Encana Corp. and gave the stock a “hold” rating in a research note on Tuesday. Jefferies Group reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Encana Corp. in a research note on Thursday, June 23rd. Finally, Scotia Howard Weill lowered Encana Corp. from a “sector perform” rating to an “underperform” rating in a research note on Tuesday. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Encana Corp. has an average rating of “Hold” and a consensus price target of $9.71.
The company’s market capitalization is $7.95 billion. The stock has a 50 day moving average of $9.57 and a 200 day moving average of $7.78.
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Encana Corp. (NYSE:ECA) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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 last year, the business posted ($0.20) EPS. Analysts forecast that Encana Corp. will post ($0.10) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.64%. Encana Corp.’s dividend payout ratio is currently -1.79%.
Large investors have recently modified their holdings of the company. UBS Asset Management Americas Inc. raised its stake 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 raised its stake 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 raised its stake 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. raised its stake 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. raised its stake 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. Hedge funds and other institutional investors own 64.68% 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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