Encana Corp. (NYSE:ECA)’s share price fell 3.5% during trading on Wednesday . The stock traded as low as $7.72 and last traded at $7.81, with a volume of 8,153,240 shares trading hands. The stock had previously closed at $8.09.

Several brokerages have recently commented on ECA. Barclays PLC decreased their price target on Encana Corp. from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 1st. Jefferies Group reaffirmed a “buy” rating and issued a $11.00 price target (up previously from $8.00) on shares of Encana Corp. in a research note on Wednesday, May 4th. Zacks Investment Research lowered Encana Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets reaffirmed a “buy” rating on shares of Encana Corp. in a research note on Wednesday, June 22nd. Finally, FirstEnergy Capital lowered Encana Corp. from a “market perform” rating to an “underperform” rating in a research note on Thursday, March 24th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.59.

The stock’s market capitalization is $6.64 billion. The stock’s 50 day moving average price is $7.97 and its 200 day moving average price is $6.06.

Encana Corp. (NYSE:ECA) last issued its earnings results on Tuesday, May 3rd. The company reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.03. During the same quarter in the previous year, the business posted $0.01 earnings per share. Equities analysts anticipate that Encana Corp. will post ($0.30) earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Monday, June 13th.

A number of hedge funds and institutional investors have recently modified their holdings of ECA. Korea Investment CORP purchased a new position in shares of Encana Corp. during the fourth quarter worth $1,408,000. Caymus Capital Partners L.P. boosted its position in shares of Encana Corp. by 43.0% in the fourth quarter. Caymus Capital Partners L.P. now owns 4,003,400 shares of the company’s stock worth $20,377,000 after buying an additional 1,203,300 shares during the last quarter. Engineers Gate Manager LP boosted its position in shares of Encana Corp. by 3,243.4% in the fourth quarter. Engineers Gate Manager LP now owns 621,866 shares of the company’s stock worth $3,165,000 after buying an additional 603,266 shares during the last quarter. State of Wisconsin Investment Board boosted its position in shares of Encana Corp. by 67.8% in the fourth quarter. State of Wisconsin Investment Board now owns 731,847 shares of the company’s stock worth $3,704,000 after buying an additional 295,700 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. boosted its position in shares of Encana Corp. by 2.8% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 17,625,001 shares of the company’s stock worth $89,526,000 after buying an additional 472,760 shares during the last quarter.

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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