Encana Corp. (ECA) Given New $15.00 Price Target at Deutsche Bank AG
Encana Corp. (NYSE:ECA) had its price objective increased by Deutsche Bank AG from $13.00 to $15.00 in a report published on Thursday morning. Deutsche Bank AG currently has a buy rating on the stock.
Other equities research analysts have also recently issued research reports about the stock. Macquarie raised shares of Encana Corp. from an underperform rating to a neutral rating in a research report on Thursday. Jefferies Group boosted their price objective on shares of Encana Corp. from $13.00 to $14.00 and gave the stock a buy rating in a research note on Thursday. GMP Securities upgraded shares of Encana Corp. from a hold rating to a buy rating in a research note on Thursday. Credit Suisse Group AG started coverage on shares of Encana Corp. in a research note on Thursday. They set an outperform rating and a $14.00 price objective for the company. Finally, BMO Capital Markets reiterated a buy rating and set a $10.00 price objective on shares of Encana Corp. in a research note on Friday, July 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $11.11.
Shares of Encana Corp. (NYSE:ECA) traded down 0.979% on Thursday, hitting $10.625. 9,595,502 shares of the stock traded hands. Encana Corp. has a one year low of $3.00 and a one year high of $11.23. The company’s market cap is $9.03 billion. The stock has a 50 day moving average of $9.90 and a 200 day moving average of $8.10.
Encana Corp. (NYSE:ECA) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.10 earnings per share for the quarter, topping the 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 period in the previous year, the firm posted ($0.20) earnings per share. Equities analysts anticipate that Encana Corp. will post ($0.04) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Tuesday, September 13th. Encana Corp.’s dividend payout ratio is presently -1.79%.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Encana Corp. by 9.8% in the second quarter. Vanguard Group Inc. now owns 17,708,640 shares of the company’s stock worth $137,950,000 after buying an additional 1,585,668 shares in the last quarter. BlackRock Group LTD raised its stake 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 valued at $80,074,000 after buying an additional 12,978,536 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Encana Corp. during the second quarter valued at approximately $54,865,000. Norges Bank bought a new stake in shares of Encana Corp. during the fourth quarter valued at approximately $33,438,000. Finally, Key Group Holdings Cayman LTD. bought a new stake in shares of Encana Corp. during the second quarter valued at approximately $39,161,000. 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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