Encana Corp. (ECA) Coverage Initiated by Analysts at Credit Suisse Group AG
A number of other equities research analysts also recently weighed in on ECA. Zacks Investment Research downgraded Encana Corp. from a buy rating to a hold rating in a research report on Wednesday, July 13th. BMO Capital Markets reiterated a buy rating on shares of Encana Corp. in a report on Wednesday, June 22nd. Scotia Howard Weill downgraded Encana Corp. from a sector perform rating to an underperform rating in a report on Tuesday, September 20th. RBC Capital Markets reiterated a sector perform rating and issued a $10.00 price objective (up previously from $9.00) on shares of Encana Corp. in a report on Monday, September 12th. Finally, Jefferies Group reiterated a buy rating and issued a $12.00 price objective on shares of Encana Corp. in a report on Thursday, June 23rd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $11.11.
Shares of Encana Corp. (NYSE:ECA) traded down 0.979% during midday trading on Thursday, hitting $10.625. The stock had a trading volume of 9,595,502 shares. Encana Corp. has a one year low of $3.00 and a one year high of $11.23. The company’s market capitalization is $9.03 billion. The firm’s 50-day moving average is $9.90 and its 200 day moving average is $8.10.
Encana Corp. (NYSE:ECA) last released its earnings results on Thursday, July 21st. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 prior year, the company earned ($0.20) earnings per share. Equities analysts expect that Encana Corp. will post ($0.04) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.015 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.56%. Encana Corp.’s payout ratio is -1.79%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Encana Corp. during the fourth quarter worth about $33,438,000. Virginia Retirement System bought a new position in shares of Encana Corp. during the first quarter worth about $1,500,000. BlackRock Inc. raised its position in shares of Encana Corp. by 7,416.7% in the first quarter. BlackRock Inc. now owns 473,551 shares of the company’s stock worth $2,884,000 after buying an additional 467,251 shares during the last quarter. BlackRock Group LTD raised its position in shares of Encana Corp. by 7,634.4% in the first quarter. BlackRock Group LTD now owns 13,148,536 shares of the company’s stock worth $80,074,000 after buying an additional 12,978,536 shares during the last quarter. Finally, Tobam bought a new position in shares of Encana Corp. during the first quarter worth about $727,000. Institutional investors and hedge funds own 64.68% of the company’s stock.
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.
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