Encana Corp (NYSE:ECA) (TSE:ECA) – Analysts at Jefferies Financial Group lifted their Q2 2019 earnings per share (EPS) estimates for shares of Encana in a research report issued to clients and investors on Tuesday, June 11th. Jefferies Financial Group analyst Z. Parham now anticipates that the oil and gas company will post earnings of $0.16 per share for the quarter, up from their prior forecast of $0.15. Jefferies Financial Group also issued estimates for Encana’s Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.17 EPS, FY2019 earnings at $0.65 EPS, Q1 2020 earnings at $0.14 EPS, Q2 2020 earnings at $0.16 EPS, Q3 2020 earnings at $0.18 EPS, Q4 2020 earnings at $0.20 EPS, FY2020 earnings at $0.68 EPS, Q1 2021 earnings at $0.28 EPS and FY2021 earnings at $1.14 EPS.
ECA has been the subject of several other research reports. TheStreet upgraded shares of Encana from a “d+” rating to a “c+” rating in a report on Thursday, March 14th. CSFB restated an “outperform” rating and set a $10.00 target price on shares of Encana in a report on Thursday, March 7th. JPMorgan Chase & Co. initiated coverage on shares of Encana in a research note on Monday, April 29th. They set a “neutral” rating and a $12.00 price target on the stock. Cowen upgraded shares of Encana from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a report on Monday, March 11th. They noted that the move was a valuation call. Finally, Sanford C. Bernstein lowered shares of Encana from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.69.
NYSE:ECA opened at $5.12 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 5.95, a PEG ratio of 1.00 and a beta of 2.14. Encana has a 1-year low of $4.88 and a 1-year high of $14.28.
Encana (NYSE:ECA) (TSE:ECA) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.05. Encana had a net margin of 11.48% and a return on equity of 10.79%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company posted $0.16 earnings per share.
Several hedge funds and other institutional investors have recently made changes to their positions in ECA. Rockefeller Capital Management L.P. purchased a new stake in Encana during the 1st quarter worth approximately $25,000. Shine Investment Advisory Services Inc. purchased a new position in Encana during the 1st quarter worth $26,000. Lee Financial Co purchased a new position in shares of Encana in the 1st quarter valued at about $26,000. American Research & Management Co. purchased a new position in shares of Encana in the 1st quarter valued at about $27,000. Finally, Beutel Goodman & Co Ltd. purchased a new position in Encana during the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 70.51% of the company’s stock.
In other news, Director Bruce Gordon Waterman bought 50,000 shares of the stock in a transaction on Wednesday, June 5th. The stock was bought at an average cost of $5.06 per share, for a total transaction of $253,000.00. Following the completion of the purchase, the director now directly owns 250,000 shares in the company, valued at $1,265,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven W. Nance sold 16,000 shares of Encana stock in a transaction on Monday, April 1st. The stock was sold at an average price of $7.40, for a total transaction of $118,400.00. Following the sale, the director now owns 82,146 shares of the company’s stock, valued at $607,880.40. The disclosure for this sale can be found here. Insiders purchased a total of 81,450 shares of company stock worth $441,388 over the last three months. 0.11% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.0188 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, June 13th. Encana’s dividend payout ratio (DPR) is currently 9.30%.
Encana Company Profile
Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It holds interests in various assets, including the Montney in northeast British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.
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