Vetr Inc. Lowers Encana Corp. (ECA) to Sell
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 currently have a $10.74 price objective on the stock. Vetr‘s price objective would indicate a potential downside of 3.42% from the stock’s current price.
A number of other research firms have also recently issued reports on ECA. Barclays PLC upgraded Encana Corp. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $10.00 to $14.00 in a research report on Tuesday, October 11th. Deutsche Bank AG boosted 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, October 6th. Macquarie upgraded Encana Corp. from an “underperform” rating to a “neutral” rating in a research report on Thursday, October 6th. Jefferies Group upped their price target on Encana Corp. from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, October 6th. Finally, GMP Securities upgraded Encana Corp. from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Thursday, October 6th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $11.81.
Shares of Encana Corp. (NYSE:ECA) traded up 1.74% during midday trading on Tuesday, reaching $11.12. 16,712,431 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $10.13 and its 200 day moving average price is $8.40. The firm’s market capitalization is $9.45 billion. Encana Corp. has a 52-week low of $3.00 and a 52-week high of $11.36.
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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 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 quarter in the previous year, the firm earned ($0.20) EPS. On average, equities research analysts anticipate that Encana Corp. will post ($0.05) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders 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 dividend yield of 0.54%. Encana Corp.’s payout ratio is -1.79%.
Several institutional investors have recently added to or reduced their stakes in ECA. BB&T Securities LLC raised 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 worth $108,000 after buying an additional 3,270 shares during the last quarter. Murphy Pohlad Asset Management LLC raised 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 worth $126,000 after buying an additional 375 shares during the last quarter. Loomis Sayles & Co. L P raised 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 worth $130,000 after buying an additional 6,036 shares during the last quarter. Carnick & Kubik Group LLC purchased a new position in shares of Encana Corp. during the second quarter worth $154,000. Finally, Stevens Capital Management LP purchased a new position in shares of Encana Corp. during the second quarter worth $165,000. Hedge funds and other 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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