Encana Corp. (ECA) Upgraded to “Buy” at Vetr Inc.
Vetr upgraded shares of Encana Corp. (NYSE:ECA) (TSE:ECA) from a hold rating to a buy rating in a research report report published on Monday. The firm currently has $12.58 target price on the stock.
Several other research firms also recently issued reports on ECA. Zacks Investment Research downgraded Encana Corp. from a strong-buy rating to a hold rating in a research note on Wednesday, September 21st. Scotiabank downgraded Encana Corp. from a sector perform rating to an underperform rating in a research note on Tuesday, September 20th. CIBC raised Encana Corp. to a sector perform rating and lifted their price target for the company from $8.00 to $12.00 in a research note on Friday, September 30th. RBC Capital Markets reissued a sector perform rating and issued a $10.00 price target (up previously from $9.00) on shares of Encana Corp. in a research note on Monday, September 12th. Finally, Jefferies Group lifted their price target on Encana Corp. from $13.00 to $14.00 and gave the company a buy rating in a research note on Thursday, October 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $12.77.
Shares of Encana Corp. (NYSE:ECA) opened at 11.70 on Monday. The company’s 50-day moving average price is $10.85 and its 200 day moving average price is $9.24. The company’s market cap is $11.38 billion. Encana Corp. has a 52 week low of $3.00 and a 52 week high of $12.55.
Encana Corp. (NYSE:ECA) last posted its earnings results on Thursday, November 3rd. The company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. Encana Corp. had a positive return on equity of 1.79% and a negative net margin of 40.77%. During the same quarter last year, the firm earned ($0.03) EPS. On average, equities analysts forecast that Encana Corp. will post $0.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be issued a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.51%. Encana Corp.’s payout ratio is -3.97%.
A number of hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. boosted its stake in shares of Encana Corp. by 13.9% in the third quarter. D.A. Davidson & CO. now owns 50,002 shares of the company’s stock worth $523,000 after buying an additional 6,099 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Encana Corp. by 20,204.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 5,055,762 shares of the company’s stock worth $52,933,000 after buying an additional 5,030,862 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in shares of Encana Corp. during the third quarter worth approximately $133,000. LPL Financial LLC boosted its stake in shares of Encana Corp. by 13.4% in the third quarter. LPL Financial LLC now owns 35,664 shares of the company’s stock worth $375,000 after buying an additional 4,215 shares during the period. Finally, Credit Suisse AG boosted its stake in shares of Encana Corp. by 2.9% in the third quarter. Credit Suisse AG now owns 2,504,820 shares of the company’s stock worth $26,225,000 after buying an additional 70,797 shares during the period. Institutional investors and hedge funds own 64.44% 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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