Societe Generale Lowers Encana Corp. (ECA) to Sell
Encana Corp. (NYSE:ECA) was downgraded by equities research analysts at Societe Generale from a “hold” rating to a “sell” rating in a research note issued on Friday.
ECA has been the subject of several other research reports. Deutsche Bank AG boosted 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 downgraded Encana Corp. from a “sector perform” rating to an “underperform” rating in a research report on Tuesday, September 20th. Zacks Investment Research downgraded Encana Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 21st. CIBC upgraded Encana Corp. to a “sector perform” rating and boosted their price objective for the company from $8.00 to $12.00 in a research report on Friday, September 30th. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $10.00 price objective (up previously from $9.00) on shares of Encana Corp. in a research report on Monday, September 12th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $11.11.
Shares of Encana Corp. (NYSE:ECA) traded up 0.65% during mid-day trading on Friday, hitting $10.80. 5,254,519 shares of the stock traded hands. The firm’s 50-day moving average is $9.90 and its 200-day moving average is $8.10. The stock’s market cap is $9.18 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 announced its quarterly earnings data on Thursday, July 21st. The company reported $0.10 earnings per share for the quarter, beating 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 in the prior year, the company earned ($0.20) earnings per share. On average, analysts forecast that Encana Corp. will post ($0.04) earnings per share 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 paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Tuesday, September 13th. Encana Corp.’s dividend payout ratio (DPR) is -1.79%.
Large investors have recently made changes to their positions in the company. Eqis Capital Management Inc. purchased a new stake in shares of Encana Corp. during the third quarter valued at approximately $171,000. BB&T Securities LLC raised its stake 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 period. Carnick & Kubik Group LLC purchased a new stake in shares of Encana Corp. during the second quarter valued at approximately $154,000. Stevens Capital Management LP purchased a new stake in shares of Encana Corp. during the second quarter valued at approximately $165,000. Finally, Loomis Sayles & Co. L P raised its stake 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 period. 64.68% of the stock is currently owned by institutional investors and hedge funds.
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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