Encana Corp. (ECA) Upgraded to “Buy” by GMP Securities
A number of other equities analysts have also recently commented on the stock. AltaCorp Capital cut shares of Encana Corp. from a sector perform rating to an underperform rating in a research note on Friday, July 22nd. FirstEnergy Capital raised shares of Encana Corp. from a market perform rating to an outperform rating in a research report on Tuesday, July 26th. Nomura reissued a buy rating and issued a $17.00 price objective on shares of Encana Corp. in a research report on Monday, September 26th. Macquarie cut shares of Encana Corp. from a neutral rating to an underperform rating in a research report on Thursday, June 23rd. Finally, KLR Group initiated coverage on shares of Encana Corp. in a research report on Monday, August 29th. They issued a hold rating and a $10.00 price objective for the company. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $11.11.
Shares of Encana Corp. (NYSE:ECA) traded down 0.93% during trading on Thursday, hitting $10.63. 9,585,143 shares of the company’s stock were exchanged. Encana Corp. has a one year low of $3.00 and a one year high of $11.23. The firm has a 50-day moving average price of $9.90 and a 200-day moving average price of $8.10. The stock’s market cap is $9.03 billion.
Encana Corp. (NYSE:ECA) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates 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 firm posted ($0.20) earnings per share. Equities research analysts expect that Encana Corp. will post ($0.04) EPS for the current fiscal year.
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Tuesday, September 13th. Encana Corp.’s dividend payout ratio is currently -1.79%.
A number of institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Encana Corp. during the fourth quarter worth approximately $33,438,000. Virginia Retirement System acquired a new position in Encana Corp. during the first quarter worth approximately $1,500,000. BlackRock Inc. raised its position in 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 in the last quarter. BlackRock Group LTD raised its position 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 worth $80,074,000 after buying an additional 12,978,536 shares in the last quarter. Finally, Tobam acquired a new position in Encana Corp. during the first quarter worth approximately $727,000. 64.68% of the stock is currently owned by institutional investors.
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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