Encana Corp. (ECA) Downgraded by Vetr Inc.
Encana Corp. (NYSE:ECA) (TSE:ECA) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Monday. They currently have a $12.02 target price on the stock. Vetr‘s price target would indicate a potential upside of 2.91% from the stock’s current price.
ECA has been the subject of several other reports. Zacks Investment Research cut shares of Encana Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 21st. Scotiabank cut shares of Encana Corp. from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, September 20th. CIBC raised shares of Encana Corp. to a “sector perform” rating and raised their target price for the company from $8.00 to $12.00 in a research note on Friday, September 30th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $10.00 price target (up previously from $9.00) on shares of Encana Corp. in a report on Monday, September 12th. Finally, Jefferies Group raised their price target on Encana Corp. from $13.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, October 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $12.74.
Shares of Encana Corp. (NYSE:ECA) opened at 11.68 on Monday. Encana Corp. has a one year low of $3.00 and a one year high of $11.75. The company’s market cap is $11.36 billion. The firm has a 50-day moving average of $10.39 and a 200 day moving average of $8.85.
Encana Corp. (NYSE:ECA) last released its earnings results on Thursday, November 3rd. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.08. Encana Corp. had a negative net margin of 40.77% and a positive return on equity of 1.79%. During the same period in the previous year, the firm earned ($0.03) earnings per share. Equities research analysts anticipate that Encana Corp. will post $0.02 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Tuesday, December 13th. Encana Corp.’s dividend payout ratio is presently -3.97%.
Hedge funds have recently added to or reduced their stakes in the company. FCG Advisors LLC purchased a new stake in Encana Corp. during the third quarter valued at $105,000. Morningstar Investment Services LLC purchased a new stake in Encana Corp. during the third quarter valued at $109,000. Murphy Pohlad Asset Management LLC boosted its stake in Encana Corp. by 3.2% in the third quarter. Murphy Pohlad Asset Management LLC now owns 12,070 shares of the company’s stock valued at $126,000 after buying an additional 375 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in Encana Corp. during the third quarter valued at $133,000. Finally, Two Sigma Securities LLC purchased a new stake in Encana Corp. during the third quarter valued at $142,000. Institutional investors own 56.30% 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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