Encana Corp. (ECA) Given a $14.00 Price Target by BMO Capital Markets Analysts
Encana Corp. (NYSE:ECA) has been assigned a $14.00 price objective by equities researchers 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’ price target indicates a potential upside of 28.91% from the company’s previous close.
Several other equities analysts also recently commented on the company. AltaCorp Capital upgraded Encana Corp. from an “underperform” rating to a “sector perform” rating in a research note on Thursday. Societe Generale downgraded Encana Corp. from a “hold” rating to a “sell” rating in a research note on Friday. Deutsche Bank AG upped their price objective on Encana Corp. from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday. Credit Suisse Group AG assumed coverage on Encana Corp. in a research note on Thursday. They issued an “outperform” rating and a $14.00 price objective on the stock. Finally, Macquarie upgraded Encana Corp. from an “underperform” rating to a “neutral” rating in a research note on Thursday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given 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 1.21% during trading on Thursday, hitting $10.86. The stock had a trading volume of 18,737,163 shares. The company’s 50 day moving average price is $9.90 and its 200 day moving average price is $8.10. Encana Corp. has a 52 week low of $3.00 and a 52 week high of $11.23. The company’s market capitalization is $9.23 billion.
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Encana Corp. (NYSE:ECA) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.10 EPS 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 period in the prior year, the business earned ($0.20) EPS. Analysts predict that Encana Corp. will post ($0.04) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.55%. Encana Corp.’s dividend payout ratio (DPR) is currently -1.79%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new position in shares of Encana Corp. during the first quarter worth about $14,564,000. Loomis Sayles & Co. L P boosted its position in shares of Encana Corp. by 39.6% in the first quarter. Loomis Sayles & Co. L P now owns 21,274 shares of the company’s stock worth $130,000 after buying an additional 6,036 shares during the period. AXA boosted its position in shares of Encana Corp. by 14.3% in the first quarter. AXA now owns 32,273 shares of the company’s stock worth $198,000 after buying an additional 4,040 shares during the period. Quadrature Capital Ltd bought a new position in shares of Encana Corp. during the first quarter worth about $2,257,000. Finally, UBS Asset Management Americas Inc. boosted its position 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 during the period. 64.68% of the stock is currently owned by hedge funds and other 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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