Encana Corp. (NYSE:ECA) was upgraded by Citigroup Inc. from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage presently has a $13.00 price target on the stock, up from their previous price target of $10.00. Citigroup Inc.’s price objective would suggest a potential upside of 21.84% from the company’s current price.
ECA has been the subject of several other research reports. Deutsche Bank AG upped their price objective on shares of Encana Corp. from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, June 14th. Scotiabank cut shares of Encana Corp. from a “sector perform” rating to an “underperform” rating in a research report on Tuesday, September 20th. Zacks Investment Research downgraded Encana Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 21st. RBC Capital Markets reissued a “sector perform” rating and set a $10.00 target price (up previously from $9.00) on shares of Encana Corp. in a research note on Monday, September 12th. Finally, Nomura reissued a “buy” rating and set a $17.00 target price on shares of Encana Corp. in a research note on Monday, September 26th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $10.62.
Encana Corp. (NYSE:ECA) opened at 10.67 on Friday. The company’s market cap is $9.07 billion. The stock has a 50 day moving average of $9.79 and a 200 day moving average of $8.02. Encana Corp. has a 52 week low of $3.00 and a 52 week high of $10.77.
Encana Corp. (NYSE:ECA) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.19. Encana Corp. had a negative net margin of 81.73% and a positive return on equity of 0.79%. During the same quarter in the previous year, the business earned ($0.20) earnings per share. Equities research analysts predict 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. Shareholders of record on Thursday, September 15th were issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Tuesday, September 13th. Encana Corp.’s payout ratio is -1.79%.
Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Encana Corp. during the fourth quarter worth about $33,438,000. First Manhattan Co. boosted its position in shares of Encana Corp. by 70.1% in the first quarter. First Manhattan Co. now owns 72,718 shares of the company’s stock worth $442,000 after buying an additional 29,970 shares in the last quarter. Virginia Retirement System purchased a new position in shares of Encana Corp. during the first quarter worth about $1,500,000. Pacad Investment Ltd. purchased a new position in shares of Encana Corp. during the first quarter worth about $1,518,000. Finally, BlackRock Inc. boosted its position in shares of Encana Corp. by 7,416.7% in the first quarter. BlackRock Inc. now owns 473,551 shares of the company’s stock worth $2,884,000 after buying an additional 467,251 shares in the last quarter. Hedge funds and other institutional investors own 64.68% 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.
Receive News & Ratings for Encana Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encana Corp. and related companies with MarketBeat.com's FREE daily email newsletter.