Encana Corp. (ECA) Stock Rating Upgraded by AltaCorp Capital
Encana Corp. (NYSE:ECA) was upgraded by investment analysts at AltaCorp Capital from an “underperform” rating to a “sector perform” rating in a report released on Thursday.
Several other research firms have also recently issued reports on ECA. 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 report on Thursday. Macquarie raised Encana Corp. from an “underperform” rating to a “neutral” rating in a research report on Thursday. Jefferies Group upped their price objective on Encana Corp. from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday. GMP Securities raised Encana Corp. from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Credit Suisse Group AG began coverage on Encana Corp. in a research report on Thursday. They issued an “outperform” rating and a $14.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.11.
Encana Corp. (NYSE:ECA) traded down 1.12% during trading on Thursday, hitting $10.61. The stock had a trading volume of 9,286,641 shares. The company has a 50-day moving average price of $9.90 and a 200-day moving average price of $8.10. The company’s market cap is $9.02 billion. Encana Corp. has a 52-week low of $3.00 and a 52-week high of $11.23.
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Encana Corp. (NYSE:ECA) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.10 earnings per share (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 previous year, the firm posted ($0.20) EPS. Equities research analysts forecast that Encana Corp. will post ($0.04) EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a $0.015 dividend. The ex-dividend date of this dividend 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 presently -1.79%.
Several large investors have recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. boosted its stake in Encana Corp. by 0.3% in the second quarter. Wetherby Asset Management Inc. now owns 23,693 shares of the company’s stock valued at $185,000 after buying an additional 66 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Encana Corp. by 0.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 152,963 shares of the company’s stock worth $1,221,000 after buying an additional 1,263 shares during the period. Moors & Cabot Inc. boosted its position in shares of Encana Corp. by 2.1% in the second quarter. Moors & Cabot Inc. now owns 65,450 shares of the company’s stock worth $514,000 after buying an additional 1,354 shares during the period. 10 15 Associates Inc. boosted its position in shares of Encana Corp. by 6.0% in the second quarter. 10 15 Associates Inc. now owns 32,700 shares of the company’s stock worth $255,000 after buying an additional 1,850 shares during the period. Finally, BB&T Securities LLC boosted its position in shares of Encana Corp. by 12.2% in the second quarter. BB&T Securities LLC now owns 19,927 shares of the company’s stock worth $155,000 after buying an additional 2,173 shares during the period. 64.68% of the stock is currently owned by institutional investors and hedge funds.
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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