BMO Capital Markets Reiterates $14.00 Price Target for Encana Corp. (ECA)
Encana Corp. (NYSE:ECA) has been assigned a $14.00 price objective by investment analysts at BMO Capital Markets in a note issued to investors on Thursday. The firm currently has a a “buy” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 30.48% from the stock’s current price.
Several other research analysts have also commented on ECA. Societe Generale lowered Encana Corp. from a “hold” rating to a “sell” rating in a research report on Friday. AltaCorp Capital raised Encana Corp. from an “underperform” rating to a “sector perform” rating in a research report on Thursday. Zacks Investment Research lowered Encana Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Credit Suisse Group AG assumed coverage on Encana Corp. in a research report on Thursday. They set an “outperform” rating and a $14.00 target price on the stock. Finally, Scotia Howard Weill lowered Encana Corp. from a “sector perform” rating to an “underperform” rating in a research report on Tuesday, September 20th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. Encana Corp. currently has an average rating of “Hold” and an average price target of $11.35.
Shares of Encana Corp. (NYSE:ECA) traded up 1.911% on Thursday, reaching $10.935. The company’s stock had a trading volume of 16,576,257 shares. The firm has a 50 day moving average price of $9.90 and a 200-day moving average price of $8.10. The stock’s market cap is $9.29 billion. Encana Corp. has a 12-month low of $3.00 and a 12-month high of $11.23.
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Encana Corp. (NYSE:ECA) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, topping 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 period last year, the business posted ($0.20) earnings per share. Equities research analysts expect that Encana Corp. will post ($0.04) EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a dividend of $0.015 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.56%. Encana Corp.’s dividend payout ratio is currently -1.79%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Encana Corp. during the fourth quarter worth about $33,438,000. BlackRock Inc. raised its position in Encana Corp. by 7,416.7% in the first quarter. BlackRock Inc. now owns 473,551 shares of the company’s stock worth $2,884,000 after buying an additional 467,251 shares during the period. BlackRock Group LTD raised its position in Encana Corp. by 7,634.4% in the first quarter. BlackRock Group LTD now owns 13,148,536 shares of the company’s stock worth $80,074,000 after buying an additional 12,978,536 shares during the period. NN Investment Partners Holdings N.V. bought a new position in Encana Corp. during the first quarter worth about $187,000. Finally, Bessemer Group Inc. raised its position in 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 during the period. Hedge funds and other institutional investors own 64.68% 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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