Encana Corp (ECA) Given Average Recommendation of “Buy” by Analysts
Shares of Encana Corp (NYSE:ECA) (TSE:ECA) have earned a consensus recommendation of “Buy” from the twenty-four brokerages that are currently covering the stock. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, twelve have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $13.69.
A number of equities analysts have commented on ECA shares. Vetr raised Encana Corp from a “buy” rating to a “strong-buy” rating and set a $15.42 price target on the stock in a research note on Monday, January 23rd. Macquarie raised Encana Corp from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 24th. Zacks Investment Research cut Encana Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, January 25th. TD Securities cut Encana Corp from a “buy” rating to a “hold” rating in a research note on Friday, January 27th. Finally, Desjardins reaffirmed a “hold” rating and issued a $13.75 price target on shares of Encana Corp in a research note on Thursday, February 9th.
In other news, Director Clayton Harvey Woitas purchased 12,300 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average cost of $10.65 per share, for a total transaction of $130,995.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 30,700 shares of company stock worth $325,049 over the last 90 days. 0.26% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in ECA. FCG Advisors LLC purchased a new stake in Encana Corp during the third quarter valued at $105,000. Equity Investment Corp Acquisition Inc purchased a new stake in Encana Corp during the fourth quarter valued at $131,000. Radnor Capital Management LLC purchased a new stake in Encana Corp during the fourth quarter valued at $131,000. First Republic Investment Management Inc. purchased a new stake in Encana Corp during the fourth quarter valued at $140,000. Finally, Two Sigma Securities LLC purchased a new stake in Encana Corp during the third quarter valued at $142,000. Institutional investors own 64.57% of the company’s stock.
Shares of Encana Corp (NYSE:ECA) opened at 11.32 on Monday. The company has a 50-day moving average price of $11.22 and a 200 day moving average price of $11.71. Encana Corp has a one year low of $7.08 and a one year high of $13.85. The company’s market capitalization is $11.01 billion.
Encana Corp (NYSE:ECA) last announced its quarterly earnings results on Tuesday, May 2nd. The oil and gas company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.08. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $789.49 million. Encana Corp had a positive return on equity of 1.79% and a negative net margin of 40.77%. During the same period in the previous year, the firm earned ($0.15) EPS. Equities analysts anticipate that Encana Corp will post $0.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.53%. Encana Corp’s dividend payout ratio is presently -3.97%.
Encana Corp Company Profile
Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. 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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