Macquarie Upgrades Encana Corp. (ECA) to “Neutral”
Encana Corp. (NYSE:ECA) was upgraded by Macquarie from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday.
ECA has been the topic of a number of other research reports. Deutsche Bank AG lifted their price target on shares of Encana Corp. from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. Scotiabank cut shares of Encana Corp. from a “sector perform” rating to an “underperform” rating in a report on Tuesday, September 20th. Zacks Investment Research cut shares of Encana Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 21st. CIBC raised shares of Encana Corp. to a “sector perform” rating and lifted their price target for the stock from $8.00 to $12.00 in a report on Friday, September 30th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $10.00 price target (up previously from $9.00) on shares of Encana Corp. in a report on Monday, September 12th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.68.
Shares of Encana Corp. (NYSE:ECA) opened at 10.93 on Thursday. The company’s 50-day moving average price is $9.86 and its 200-day moving average price is $8.08. The firm’s market cap is $9.29 billion. Encana Corp. has a 12 month low of $3.00 and a 12 month high of $11.10.
Encana Corp. (NYSE:ECA) last posted its 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 negative net margin of 81.73% and a positive return on equity of 0.79%. During the same quarter in the previous year, the company posted ($0.20) EPS. On average, analysts predict that Encana Corp. will post ($0.04) EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.55%. The ex-dividend date was Tuesday, September 13th. Encana Corp.’s dividend payout ratio is presently -1.79%.
A number of hedge funds have recently bought and sold shares of ECA. Norges Bank acquired a new stake in Encana Corp. during the fourth quarter valued at $33,438,000. Virginia Retirement System acquired a new stake in Encana Corp. during the first quarter valued at $1,500,000. BlackRock Inc. increased its stake in Encana Corp. by 7,416.7% in the first quarter. BlackRock Inc. now owns 473,551 shares of the company’s stock valued at $2,884,000 after buying an additional 467,251 shares in the last quarter. BlackRock Group LTD increased its stake in Encana Corp. by 7,634.4% in the first quarter. BlackRock Group LTD now owns 13,148,536 shares of the company’s stock valued at $80,074,000 after buying an additional 12,978,536 shares in the last quarter. Finally, Tobam acquired a new stake in Encana Corp. during the first quarter valued at $727,000. 64.68% of the stock is owned by institutional investors and hedge funds.
About Encana Corp.
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.
Receive News & Stock Ratings for Encana Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encana Corp. and related stocks with our FREE daily email newsletter.