Encana Corp. (ECA) Lowered to Sell at Vetr Inc.
Encana Corp. (NYSE:ECA) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “sell” rating in a report released on Tuesday. They presently have a $10.74 price objective on the stock. Vetr‘s target price indicates a potential downside of 3.42% from the company’s previous close.
A number of other equities research analysts have also issued reports on ECA. Jefferies Group reaffirmed a “buy” rating and issued a $12.00 target price on shares of Encana Corp. in a research note on Thursday, June 23rd. Macquarie downgraded Encana Corp. from a “neutral” rating to an “underperform” rating in a report on Thursday, June 23rd. BMO Capital Markets reiterated a “buy” rating on shares of Encana Corp. in a report on Wednesday, June 22nd. AltaCorp Capital downgraded Encana Corp. from an “outperform” rating to a “speculative” rating in a report on Thursday, July 7th. Finally, Zacks Investment Research downgraded Encana Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Encana Corp. currently has a consensus rating of “Hold” and a consensus target price of $11.81.
Encana Corp. (NYSE:ECA) traded up 1.74% on Tuesday, reaching $11.12. The company had a trading volume of 16,712,431 shares. The stock’s 50-day moving average price is $10.13 and its 200 day moving average price is $8.40. Encana Corp. has a 52-week low of $3.00 and a 52-week high of $11.36. The firm’s market capitalization is $9.45 billion.
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Encana Corp. (NYSE:ECA) last posted its earnings results on Thursday, July 21st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the company posted ($0.20) EPS. On average, equities analysts anticipate that Encana Corp. will post ($0.05) earnings per share for the current fiscal year.
The firm also recently announced 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 was Tuesday, September 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.54%. Encana Corp.’s dividend payout ratio is presently -1.79%.
Several institutional investors have recently made changes to their positions in ECA. BB&T Securities LLC increased its position in Encana Corp. by 22.6% in the first quarter. BB&T Securities LLC now owns 17,754 shares of the company’s stock worth $108,000 after buying an additional 3,270 shares during the period. Murphy Pohlad Asset Management LLC increased its position in shares of Encana Corp. by 3.2% in the third quarter. Murphy Pohlad Asset Management LLC now owns 12,070 shares of the company’s stock valued at $126,000 after buying an additional 375 shares during the last quarter. 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. Carnick & Kubik Group LLC bought a new position in shares of Encana Corp. during the second quarter valued at $154,000. Finally, Stevens Capital Management LP bought a new position in shares of Encana Corp. during the second quarter valued at $165,000. Institutional investors own 57.46% 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.
To view Vetr’s full report, visit Vetr’s official website.
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