Encana Corp (ECA) Receives Consensus Rating of “Buy” from Brokerages
Encana Corp (TSE:ECA) (NYSE:ECA) has been assigned an average recommendation of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$16.35.
ECA has been the subject of a number of research reports. TD Securities lowered their target price on Encana Corp to C$15.50 and set a “hold” rating for the company in a research report on Tuesday, June 13th. Raymond James Financial, Inc. initiated coverage on Encana Corp in a research report on Wednesday, May 31st. They set an “outperform” rating and a C$20.00 target price for the company. AltaCorp Capital upgraded Encana Corp from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 24th. BMO Capital Markets reiterated an “outperform” rating and set a C$13.00 target price on shares of Encana Corp in a research report on Wednesday, June 21st. Finally, Royal Bank Of Canada increased their target price on Encana Corp to C$16.25 and gave the company an “outperform” rating in a research report on Monday, July 24th.
Shares of Encana Corp (ECA) traded down 3.61% during midday trading on Friday, hitting $11.20. 2,492,818 shares of the stock were exchanged. Encana Corp has a 52-week low of $10.54 and a 52-week high of $18.13. The firm’s 50-day moving average is $11.94 and its 200 day moving average is $13.40. The firm has a market cap of $10.90 billion and a PE ratio of 13.35.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.015 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.54%.
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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