Encana Corporation (ECA) Given Market Perform Rating at Sanford C. Bernstein
Encana Corporation (NYSE:ECA) (TSE:ECA)‘s stock had its “market perform” rating reaffirmed by equities researchers at Sanford C. Bernstein in a note issued to investors on Friday.
ECA has been the subject of a number of other research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $14.00 price target on shares of Encana Corporation in a report on Monday, May 29th. Scotiabank upgraded Encana Corporation from an “underperform” rating to a “sector perform” rating and set a $11.00 price target for the company in a report on Friday, June 30th. Canaccord Genuity reissued a “buy” rating and issued a $14.00 price objective on shares of Encana Corporation in a research note on Saturday, March 11th. TD Securities reduced their price objective on shares of Encana Corporation from $12.50 to $11.50 and set a “hold” rating for the company in a research note on Tuesday, June 13th. Finally, Desjardins reissued a “hold” rating and issued a $13.75 price objective on shares of Encana Corporation in a research note on Thursday, March 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.58.
Encana Corporation (ECA) opened at 8.52 on Friday. The stock has a 50 day moving average price of $9.75 and a 200 day moving average price of $11.30. Encana Corporation has a 12 month low of $7.34 and a 12 month high of $13.85. The company’s market cap is $8.29 billion.
Encana Corporation (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings results on Tuesday, May 2nd. The oil and gas company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $789.49 million. Encana Corporation had a positive return on equity of 5.21% and a negative net margin of 3.87%. During the same quarter in the previous year, the business earned ($0.15) earnings per share. Analysts anticipate that Encana Corporation will post $0.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were issued a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, June 13th. Encana Corporation’s payout ratio is -31.58%.
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A number of large investors have recently bought and sold shares of ECA. First Republic Investment Management Inc. acquired a new stake in Encana Corporation during the fourth quarter valued at approximately $140,000. Equity Investment Corp Acquisition Inc raised its stake in Encana Corporation by 10.7% in the first quarter. Equity Investment Corp Acquisition Inc now owns 12,330 shares of the oil and gas company’s stock valued at $144,000 after buying an additional 1,195 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Encana Corporation during the first quarter valued at approximately $166,000. United Services Automobile Association acquired a new stake in Encana Corporation during the first quarter valued at approximately $168,000. Finally, Quadrant Capital Group LLC raised its stake in Encana Corporation by 3,857.3% in the first quarter. Quadrant Capital Group LLC now owns 17,531 shares of the oil and gas company’s stock valued at $200,000 after buying an additional 17,088 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.
Encana Corporation 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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