Encana Corp. (NYSE:ECA) was downgraded by equities research analysts at Societe Generale from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
A number of other equities analysts also recently weighed in on the company. AltaCorp Capital downgraded Encana Corp. from a “sector perform” rating to an “underperform” rating in a research report on Friday, July 22nd. FirstEnergy Capital raised Encana Corp. from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 26th. Nomura reaffirmed a “buy” rating and issued a $17.00 target price on shares of Encana Corp. in a research report on Monday, September 26th. Macquarie downgraded Encana Corp. from a “neutral” rating to an “underperform” rating in a research report on Thursday, June 23rd. Finally, KLR Group initiated coverage on Encana Corp. in a research report on Monday, August 29th. They issued a “hold” rating and a $10.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $11.46.
Shares of Encana Corp. (NYSE:ECA) opened at 11.09 on Friday. The company has a 50-day moving average price of $9.94 and a 200 day moving average price of $8.20. Encana Corp. has a 52 week low of $3.00 and a 52 week high of $11.31. The stock’s market capitalization is $9.43 billion.
Encana Corp. (NYSE:ECA) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm earned ($0.20) EPS. Analysts forecast that Encana Corp. will post ($0.04) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Tuesday, September 13th. Encana Corp.’s payout ratio is -1.79%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new position in shares of Encana Corp. during the first quarter worth approximately $14,564,000. Loomis Sayles & Co. L P boosted its position in shares of Encana Corp. by 39.6% in the first quarter. Loomis Sayles & Co. L P now owns 21,274 shares of the company’s stock worth $130,000 after buying an additional 6,036 shares during the last quarter. AXA boosted its position in shares of Encana Corp. by 14.3% in the first quarter. AXA now owns 32,273 shares of the company’s stock worth $198,000 after buying an additional 4,040 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Encana Corp. during the first quarter worth approximately $2,257,000. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Encana Corp. by 8.6% in the first quarter. UBS Asset Management Americas Inc. now owns 2,120,040 shares of the company’s stock worth $12,982,000 after buying an additional 168,638 shares during the last quarter. Institutional investors own 57.44% of the company’s stock.
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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