Encana Corp. (ECA) Price Target Raised to $14.00
Encana Corp. (NYSE:ECA) had its price objective upped by equities researchers at Jefferies Group to $14.00 in a note issued to investors on Thursday. Jefferies Group’s price objective indicates a potential upside of 28.09% from the stock’s previous close.
A number of other research analysts have also weighed in on the company. KLR Group initiated coverage on Encana Corp. in a report on Monday, August 29th. They set a “hold” rating and a $10.00 price objective on the stock. Nomura reaffirmed a “buy” rating and set a $17.00 price objective on shares of Encana Corp. in a report on Monday, September 26th. CIBC raised Encana Corp. to a “sector perform” rating and upped their price objective for the stock from $8.00 to $12.00 in a report on Friday, September 30th. Royal Bank Of Canada dropped their price objective on Encana Corp. from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Monday, September 12th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Encana Corp. in a report on Thursday, September 29th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $10.68.
Shares of Encana Corp. (NYSE:ECA) opened at 10.93 on Thursday. The firm’s market cap is $9.29 billion. Encana Corp. has a 52 week low of $3.00 and a 52 week high of $11.10. The stock’s 50 day moving average is $9.86 and its 200-day moving average is $8.08.
Encana Corp. (NYSE:ECA) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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) earnings per share. On average, equities analysts predict that Encana Corp. will post ($0.04) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors 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 0.55%. Encana Corp.’s payout ratio is currently -1.79%.
Several large investors have recently made changes to their positions in ECA. AXA increased its stake in shares of Encana Corp. by 14.3% in the first quarter. AXA now owns 32,273 shares of the company’s stock valued at $198,000 after buying an additional 4,040 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Encana Corp. during the first quarter valued at approximately $2,257,000. UBS Asset Management Americas Inc. increased its stake in shares of Encana Corp. by 8.6% in the first quarter. UBS Asset Management Americas Inc. now owns 2,120,040 shares of the company’s stock valued at $12,982,000 after buying an additional 168,638 shares during the last quarter. BB&T Securities LLC increased its stake 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 valued at $108,000 after buying an additional 3,270 shares during the last quarter. Finally, Credit Agricole S A increased its stake in shares of Encana Corp. by 4.3% in the first quarter. Credit Agricole S A now owns 93,980 shares of the company’s stock valued at $573,000 after buying an additional 3,867 shares during the last quarter. Institutional investors and hedge funds own 64.68% 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.
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