Encana Corp. (ECA) Rating Lowered to Accumulate at KLR Group
Encana Corp. (NYSE:ECA) (TSE:ECA) was downgraded by stock analysts at KLR Group from a “buy” rating to an “accumulate” rating in a report issued on Monday. They presently have a $14.00 price objective on the stock. KLR Group’s price objective suggests a potential upside of 23.78% from the company’s current price.
ECA has been the subject of several other reports. Nomura restated a “buy” rating and issued a $17.00 target price on shares of Encana Corp. in a report on Monday, September 26th. CIBC upgraded Encana Corp. to a “sector perform” rating and upped their target price for the company from $8.00 to $12.00 in a report on Friday, September 30th. Vetr upgraded Encana Corp. from a “sell” rating to a “hold” rating and set a $10.74 target price for the company in a report on Monday, October 24th. Barclays PLC upgraded Encana Corp. from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $10.00 to $14.00 in a report on Tuesday, October 11th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $13.00 target price (down from $15.00) on shares of Encana Corp. in a report on Thursday, September 29th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $12.77.
Encana Corp. (NYSE:ECA) opened at 11.31 on Monday. Encana Corp. has a 12-month low of $3.00 and a 12-month high of $12.55. The stock’s market capitalization is $11.00 billion. The company has a 50 day moving average of $10.85 and a 200-day moving average of $9.24.
Encana Corp. (NYSE:ECA) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.04 EPS 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 in the previous year, the business earned ($0.03) earnings per share. On average, equities research analysts forecast that Encana Corp. will post $0.02 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders 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 dividend yield of 0.53%. Encana Corp.’s payout ratio is currently -3.97%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in ECA. D.A. Davidson & CO. increased its position in 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 last quarter. Price T Rowe Associates Inc. MD increased its position in 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 in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in Encana Corp. during the third quarter worth about $133,000. LPL Financial LLC increased its position in 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 in the last quarter. Finally, Credit Suisse AG increased its position in 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 in the last quarter. 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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