Several other equities analysts also recently issued reports on ECA. Barclays PLC cut their target price on Encana Corp. from $8.00 to $6.00 and set an equal weight rating on the stock in a research report on Wednesday, June 1st. Zacks Investment Research downgraded Encana Corp. from a buy rating to a hold rating in a research report on Wednesday, July 13th. BMO Capital Markets reaffirmed a buy rating on shares of Encana Corp. in a research report on Wednesday, June 22nd. Scotia Howard Weill downgraded Encana Corp. from a sector perform rating to an underperform rating in a research report on Tuesday, September 20th. Finally, RBC Capital Markets reaffirmed a sector perform rating and set a $10.00 price target (up from $9.00) on shares of Encana Corp. in a research report on Monday, September 12th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $9.84.
Encana Corp. (NYSE:ECA) traded down 2.16% during midday trading on Monday, hitting $9.06. The company had a trading volume of 2,779,360 shares. Encana Corp. has a 1-year low of $3.00 and a 1-year high of $10.75. The firm’s market capitalization is $7.70 billion. The company has a 50 day moving average price of $9.65 and a 200 day moving average price of $7.87.
Encana Corp. (NYSE:ECA) last released its earnings results on Thursday, July 21st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.19. Encana Corp. had a positive return on equity of 0.79% and a negative net margin of 81.73%. During the same period in the prior year, the business posted ($0.20) EPS. Equities research analysts forecast that Encana Corp. will post ($0.10) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Tuesday, September 13th. Encana Corp.’s dividend payout ratio (DPR) is -1.79%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ECA. Vanguard Group Inc. raised its position in Encana Corp. by 9.8% in the second quarter. Vanguard Group Inc. now owns 17,708,640 shares of the company’s stock worth $137,950,000 after buying an additional 1,585,668 shares during the period. BlackRock Group LTD raised its position in Encana Corp. by 7,634.4% in the first quarter. BlackRock Group LTD now owns 13,148,536 shares of the company’s stock worth $80,074,000 after buying an additional 12,978,536 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Encana Corp. during the second quarter worth about $54,865,000. Norges Bank purchased a new stake in shares of Encana Corp. during the fourth quarter worth about $33,438,000. Finally, Key Group Holdings Cayman LTD. purchased a new stake in shares of Encana Corp. during the second quarter worth about $39,161,000. 64.68% of the stock is currently owned by institutional investors and hedge funds.
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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