Encana Corp. (ECA) Downgraded by Societe Generale to Sell
Encana Corp. (NYSE:ECA) was downgraded by equities researchers at Societe Generale from a “hold” rating to a “sell” rating in a report released on Friday.
Other analysts also recently issued research reports about the company. Jefferies Group reiterated a “buy” rating on shares of Encana Corp. in a research note on Thursday, August 11th. Deutsche Bank AG upped their price target on Encana Corp. from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, June 14th. BMO Capital Markets reissued a “buy” rating on shares of Encana Corp. in a research report on Wednesday, June 22nd. Nomura boosted their price objective on Encana Corp. from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Finally, Citigroup Inc. raised Encana Corp. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $13.00 in a research report on Friday, September 30th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Encana Corp. presently has a consensus rating of “Hold” and an average price target of $11.11.
Shares of Encana Corp. (NYSE:ECA) traded up 0.65% on Friday, hitting $10.80. The stock had a trading volume of 5,024,537 shares. The firm’s 50-day moving average is $9.90 and its 200 day moving average is $8.10. Encana Corp. has a 1-year low of $3.00 and a 1-year high of $11.23. The stock’s market cap is $9.18 billion.
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Encana Corp. (NYSE:ECA) last released 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 in the prior year, the firm posted ($0.20) earnings per share. Equities analysts forecast that Encana Corp. will post ($0.04) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, September 13th. Encana Corp.’s dividend payout ratio (DPR) is presently -1.79%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its position in Encana Corp. by 58.3% in the third quarter. BNP Paribas Arbitrage SA now owns 231,104 shares of the company’s stock valued at $2,420,000 after buying an additional 85,116 shares during the period. Eqis Capital Management Inc. acquired a new position in Encana Corp. during the third quarter valued at approximately $171,000. Carnick & Kubik Group LLC acquired a new position in Encana Corp. during the second quarter valued at approximately $154,000. Stifel Financial Corp increased its position in Encana Corp. by 181.2% in the second quarter. Stifel Financial Corp now owns 390,942 shares of the company’s stock valued at $3,045,000 after buying an additional 251,891 shares during the period. Finally, Legal & General Group Plc increased its position in Encana Corp. by 2.1% in the second quarter. Legal & General Group Plc now owns 4,886,413 shares of the company’s stock valued at $37,841,000 after buying an additional 100,674 shares during the period. 64.68% of the stock is owned by institutional investors.
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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