Encana Corp. (NYSE:ECA) was upgraded by investment analysts at CIBC to a “sector perform” rating in a report released on Friday.
Several other equities analysts also recently weighed in on ECA. Jefferies Group reissued a “buy” rating on shares of Encana Corp. in a research report on Thursday, August 11th. Deutsche Bank AG upped their target price on Encana Corp. from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. BMO Capital Markets reiterated a “buy” rating on shares of Encana Corp. in a report on Wednesday, June 22nd. Nomura upped their target price on Encana Corp. from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, September 12th. Finally, Citigroup Inc. upgraded Encana Corp. from a “neutral” rating to a “buy” rating and upped their target price for the stock from $10.00 to $13.00 in a report on Friday. Four analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.21.
Shares of Encana Corp. (NYSE:ECA) opened at 10.10 on Friday. The stock’s market cap is $8.58 billion. Encana Corp. has a 52 week low of $3.00 and a 52 week high of $10.75. The company has a 50-day moving average price of $9.72 and a 200-day moving average price of $7.92.
Encana Corp. (NYSE:ECA) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analysts anticipate that Encana Corp. will post ($0.09) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Tuesday, September 13th. Encana Corp.’s payout ratio is currently -1.79%.
Institutional investors have recently modified their holdings of the stock. 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 valued at $442,000 after buying an additional 29,970 shares during the period. Swiss National Bank boosted its position in Encana Corp. by 5.2% in the second quarter. Swiss National Bank now owns 4,808,100 shares of the company’s stock valued at $37,219,000 after buying an additional 238,500 shares during the last quarter. Tobam acquired a new position in Encana Corp. during the first quarter valued at about $727,000. Pacad Investment Ltd. acquired a new position in Encana Corp. during the first quarter valued at about $1,518,000. Finally, UBS Asset Management Americas Inc. boosted its position in 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 valued at $12,982,000 after buying an additional 168,638 shares during 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.
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