Several other research analysts have also recently weighed in on the stock. AltaCorp Capital cut shares of Encana Corp. from a sector perform rating to an underperform rating in a report on Friday, July 22nd. FirstEnergy Capital raised shares of Encana Corp. from a market perform rating to an outperform rating in a report on Tuesday, July 26th. Macquarie cut shares of Encana Corp. from a neutral rating to an underperform rating in a report on Thursday, June 23rd. KLR Group began coverage on shares of Encana Corp. in a report on Monday, August 29th. They set a hold rating and a $10.00 target price on the stock. Finally, Royal Bank Of Canada lowered their target price on shares of Encana Corp. from $10.00 to $9.00 and set a sector perform rating on the stock in a report on Monday, September 12th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $9.71.
Encana Corp. (NYSE:ECA) opened at 9.10 on Tuesday. The firm’s market cap is $7.73 billion. Encana Corp. has a 12-month low of $3.00 and a 12-month high of $10.75. The firm’s 50-day moving average price is $9.63 and its 200 day moving average price is $7.81.
Encana Corp. (NYSE:ECA) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.10 earnings per share for the quarter, beating 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 period in the previous year, the company posted ($0.20) EPS. Analysts forecast that Encana Corp. will post ($0.10) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.015 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.66%. Encana Corp.’s dividend payout ratio (DPR) is presently -1.79%.
Institutional investors have recently added to or reduced their stakes in the stock. 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 valued at $137,950,000 after buying an additional 1,585,668 shares during the last quarter. 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 valued at $80,074,000 after buying an additional 12,978,536 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Encana Corp. during the second quarter valued at about $54,865,000. Norges Bank purchased a new position in Encana Corp. during the fourth quarter valued at about $33,438,000. Finally, Key Group Holdings Cayman LTD. purchased a new position in Encana Corp. during the second quarter valued at about $39,161,000. Institutional investors and hedge funds 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.
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