Encana’s (ECA) Average Rating Reiterated at Canaccord Genuity
ECA has been the topic of a number of other reports. BMO Capital Markets reissued a buy rating and set a $18.00 price target on shares of Encana in a report on Thursday, October 11th. Zacks Investment Research lowered Encana from a buy rating to a hold rating in a report on Monday, July 23rd. National Bank Financial lowered their price target on Encana from $22.00 to $21.00 and set an outperform rating on the stock in a report on Thursday, August 2nd. Raymond James lowered Encana from a strong-buy rating to an outperform rating and lowered their price target for the company from $18.00 to $17.00 in a report on Friday, November 2nd. Finally, Jefferies Financial Group set a $14.00 price target on Encana and gave the company a buy rating in a report on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. Encana presently has an average rating of Buy and an average price target of $15.14.
NYSE ECA traded up $0.14 during trading hours on Wednesday, hitting $8.85. The company had a trading volume of 31,628,890 shares, compared to its average volume of 24,764,914. Encana has a fifty-two week low of $8.43 and a fifty-two week high of $14.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.70 and a quick ratio of 0.73. The firm has a market capitalization of $8.36 billion, a PE ratio of 20.58, a P/E/G ratio of 0.89 and a beta of 2.15.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, December 13th. Encana’s payout ratio is currently 13.95%.
In other news, Director Clayton Harvey Woitas bought 100,000 shares of the stock in a transaction that occurred on Wednesday, November 7th. The shares were purchased at an average cost of $8.78 per share, with a total value of $878,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sherri Anne Brillon bought 17,250 shares of the stock in a transaction that occurred on Thursday, November 8th. The shares were purchased at an average cost of $8.85 per share, for a total transaction of $152,662.50. Following the completion of the acquisition, the chief financial officer now owns 114,165 shares of the company’s stock, valued at $1,010,360.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 192,155 shares of company stock worth $1,693,714. 0.08% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Encana by 274.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,002 shares of the oil and gas company’s stock valued at $213,000 after purchasing an additional 6,600 shares during the period. Clinton Group Inc. acquired a new position in shares of Encana in the 2nd quarter valued at $131,000. Advisor Partners LLC acquired a new position in shares of Encana in the 2nd quarter valued at $134,000. Fox Run Management L.L.C. acquired a new position in shares of Encana in the 3rd quarter valued at $196,000. Finally, Suntrust Banks Inc. acquired a new position in shares of Encana in the 1st quarter valued at $165,000. 67.17% of the stock is currently owned by hedge funds and other institutional investors.
Encana Company Profile
Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company holds interests in various assets, including the Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.
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