Encana Corporation (ECA) Given “Buy” Rating at Jefferies Group LLC
Jefferies Group LLC restated their buy rating on shares of Encana Corporation (NYSE:ECA) (TSE:ECA) in a research note published on Tuesday morning. The firm currently has a $12.00 target price on the oil and gas company’s stock, down from their prior target price of $13.00.
Several other equities analysts have also recently weighed in on the company. BidaskClub cut Encana Corporation from a hold rating to a sell rating in a report on Thursday, August 17th. Canaccord Genuity set a $12.00 price target on Encana Corporation and gave the company a buy rating in a report on Thursday, August 17th. Zacks Investment Research upgraded Encana Corporation from a hold rating to a buy rating and set a $11.00 target price for the company in a report on Thursday, July 27th. Desjardins reiterated a hold rating and issued a $13.50 target price on shares of Encana Corporation in a report on Tuesday, July 25th. Finally, AltaCorp Capital upgraded Encana Corporation from a sector perform rating to an outperform rating in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and four have given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $13.23.
Shares of Encana Corporation (NYSE ECA) opened at 8.95 on Tuesday. Encana Corporation has a 52 week low of $8.01 and a 52 week high of $13.85. The firm has a market capitalization of $8.71 billion, a P/E ratio of 10.67 and a beta of 2.04. The firm’s 50-day moving average is $9.52 and its 200-day moving average is $10.39.
Encana Corporation (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.15. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $773.19 million. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. During the same quarter last year, the business posted $0.10 EPS. Equities analysts anticipate that Encana Corporation will post $0.49 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Thursday, September 14th. Encana Corporation’s dividend payout ratio (DPR) is presently 6.98%.
Large investors have recently modified their holdings of the stock. Causeway Capital Management LLC raised its stake in shares of Encana Corporation by 95.2% in the first quarter. Causeway Capital Management LLC now owns 48,768,776 shares of the oil and gas company’s stock worth $571,082,000 after buying an additional 23,779,815 shares during the period. BlackRock Inc. raised its stake in shares of Encana Corporation by 15.4% in the second quarter. BlackRock Inc. now owns 25,264,984 shares of the oil and gas company’s stock worth $222,330,000 after buying an additional 3,368,871 shares during the period. Vanguard Group Inc. raised its stake in shares of Encana Corporation by 4.3% in the second quarter. Vanguard Group Inc. now owns 23,620,300 shares of the oil and gas company’s stock worth $207,858,000 after buying an additional 982,600 shares during the period. FMR LLC raised its stake in shares of Encana Corporation by 6.3% in the first quarter. FMR LLC now owns 22,080,449 shares of the oil and gas company’s stock worth $258,686,000 after buying an additional 1,309,218 shares during the period. Finally, Steadfast Capital Management LP raised its stake in shares of Encana Corporation by 5.0% in the second quarter. Steadfast Capital Management LP now owns 20,963,596 shares of the oil and gas company’s stock worth $184,480,000 after buying an additional 989,023 shares during the period. 66.76% of the stock is owned by institutional investors and hedge funds.
About Encana Corporation
Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. 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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