Encana Corp. (ECA) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Encana Corp. (NYSE:ECA) have received a consensus rating of “Hold” from the twenty-three brokerages that are currently covering the company. Three investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $12.16.
Several brokerages have commented on ECA. Barclays PLC upgraded Encana Corp. from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $14.00 in a research note on Tuesday, October 11th. Deutsche Bank AG upped their price target on Encana Corp. from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 6th. Macquarie upgraded Encana Corp. from an “underperform” rating to a “neutral” rating in a research note on Thursday, October 6th. Jefferies Group increased their target price on Encana Corp. from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, October 6th. Finally, GMP Securities upgraded Encana Corp. from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Thursday, October 6th.
Several hedge funds have recently made changes to their positions in the company. BB&T Securities LLC boosted its stake in 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 in the last quarter. Murphy Pohlad Asset Management LLC boosted its stake in 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 in the last quarter. Loomis Sayles & Co. L P boosted its stake in 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 in the last quarter. Carnick & Kubik Group LLC acquired a new stake in Encana Corp. during the second quarter valued at approximately $154,000. Finally, Stevens Capital Management LP acquired a new stake in Encana Corp. during the second quarter valued at approximately $165,000. 57.46% of the stock is currently owned by institutional investors and hedge funds.
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Encana Corp. (NYSE:ECA) traded up 1.37% during midday trading on Tuesday, reaching $11.08. The company had a trading volume of 11,455,756 shares. The firm’s 50-day moving average price is $10.09 and its 200 day moving average price is $8.37. The firm’s market capitalization is $9.42 billion. Encana Corp. has a 12 month low of $3.00 and a 12 month high of $11.36.
Encana Corp. (NYSE:ECA) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, topping 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 quarter last year, the firm earned ($0.20) earnings per share. Equities analysts anticipate that Encana Corp. will post ($0.05) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Tuesday, September 13th. Encana Corp.’s dividend payout ratio (DPR) is -1.79%.
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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