A number of other brokerages also recently issued reports on ECA. Nomura raised their price objective on Encana Corp. from $12.00 to $15.00 and gave the stock a buy rating in a research report on Monday, September 12th. Zacks Investment Research downgraded Encana Corp. from a buy rating to a hold rating in a research report on Wednesday, July 13th. Deutsche Bank AG restated a buy rating and set a $13.00 price objective (down from $15.00) on shares of Encana Corp. in a research report on Thursday, September 29th. BMO Capital Markets restated a buy rating and set a $10.00 price objective on shares of Encana Corp. in a research report on Friday, July 22nd. Finally, Royal Bank Of Canada lowered their price objective on Encana Corp. from $10.00 to $9.00 and set a sector perform rating for the company in a research report on Monday, September 12th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $11.46.
Encana Corp. (NYSE:ECA) opened at 11.09 on Thursday. Encana Corp. has a 12 month low of $3.00 and a 12 month high of $11.31. The firm’s market capitalization is $9.43 billion. The company has a 50 day moving average price of $9.94 and a 200 day moving average price of $8.20.
Encana Corp. (NYSE:ECA) last posted its earnings results on Thursday, July 21st. The company reported $0.10 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 firm earned ($0.20) earnings per share. Analysts anticipate that Encana Corp. will post ($0.04) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a dividend of $0.015 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.54%. Encana Corp.’s dividend payout ratio (DPR) is currently -1.79%.
A number of hedge funds have recently modified their holdings of the company. BlackRock Group LTD raised its stake in shares of 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. acquired a new stake in shares of Encana Corp. during the second quarter worth approximately $54,865,000. Norges Bank acquired a new stake in shares of Encana Corp. during the fourth quarter worth approximately $33,438,000. Key Group Holdings Cayman LTD. acquired a new stake in shares of Encana Corp. during the second quarter worth approximately $39,161,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Encana Corp. during the second quarter worth approximately $23,962,000. Institutional investors and hedge funds own 57.44% of the company’s stock.
About Encana Corp.
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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