Encana Corp. (ECA) Stock Rating Upgraded by AltaCorp Capital
Encana Corp. (NYSE:ECA) was upgraded by research analysts at AltaCorp Capital from an “underperform” rating to a “sector perform” rating in a research report issued on Thursday.
A number of other research firms have also recently issued reports on ECA. Deutsche Bank AG raised their price objective on Encana Corp. from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, June 14th. Scotiabank cut Encana Corp. from a “sector perform” rating to an “underperform” rating in a research report on Tuesday, September 20th. Zacks Investment Research cut Encana Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 21st. CIBC raised Encana Corp. to a “sector perform” rating and raised their price objective for the company from $8.00 to $12.00 in a research report on Friday, September 30th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $10.00 price objective (up from $9.00) on shares of Encana Corp. in a research report on Monday, September 12th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $11.11.
Shares of Encana Corp. (NYSE:ECA) traded down 0.93% during mid-day trading on Thursday, reaching $10.63. The company’s stock had a trading volume of 9,073,866 shares. The firm’s market cap is $9.03 billion. The firm has a 50 day moving average price of $9.90 and a 200 day moving average price of $8.10. 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 issued its quarterly earnings results 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 quarter in the previous year, the firm earned ($0.20) earnings per share. On average, equities analysts predict that Encana Corp. will post ($0.04) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.06 annualized dividend and a yield of 0.56%. Encana Corp.’s payout ratio is -1.79%.
A number of institutional investors have recently modified their holdings of the stock. Eqis Capital Management Inc. purchased a new position in shares of Encana Corp. during the third quarter valued at approximately $171,000. BB&T Securities LLC increased its position 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 valued at $108,000 after buying an additional 3,270 shares during the last quarter. Carnick & Kubik Group LLC purchased a new position in shares of Encana Corp. during the second quarter valued at approximately $154,000. Stevens Capital Management LP purchased a new position in shares of Encana Corp. during the second quarter valued at approximately $165,000. Finally, Loomis Sayles & Co. L P increased 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 valued at $130,000 after buying an additional 6,036 shares during the last quarter. 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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