Encana Corp. (NYSE:ECA) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $9.54 and last traded at $9.32, with a volume of 9,170,889 shares changing hands. The stock had previously closed at $9.16.

Several equities research analysts have recently weighed in on ECA shares. Jefferies Group reissued a “buy” rating and set a $11.00 target price (up previously from $8.00) on shares of Encana Corp. in a research report on Wednesday, May 4th. FirstEnergy Capital raised Encana Corp. from an “underperform” rating to a “market perform” rating in a research report on Thursday, May 5th. Deutsche Bank AG reissued a “buy” rating and set a $8.00 target price on shares of Encana Corp. in a research report on Thursday, May 19th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Encana Corp. in a research report on Friday, May 20th. Finally, Barclays PLC cut their target price on Encana Corp. from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.45.

The firm’s market cap is $7.98 billion. The firm’s 50 day moving average price is $8.03 and its 200-day moving average price is $6.62.

Encana Corp. (NYSE:ECA) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.19. During the same period in the previous year, the company posted ($0.20) earnings per share. Analysts anticipate that Encana Corp. will post ($0.11) EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.64%. The ex-dividend date is Tuesday, September 13th.

A number of hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its stake in shares of Encana Corp. by 88.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,880,440 shares of the company’s stock valued at $9,572,000 after buying an additional 882,374 shares during the last quarter. Morgan Stanley boosted its stake in shares of Encana Corp. by 23.1% in the fourth quarter. Morgan Stanley now owns 2,944,743 shares of the company’s stock valued at $14,990,000 after buying an additional 552,204 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Encana Corp. during the fourth quarter valued at about $1,602,000. State of Wisconsin Investment Board boosted its stake 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 valued at $3,704,000 after buying an additional 295,700 shares during the last quarter. Finally, Bridgewater Associates LP boosted its stake in shares of Encana Corp. by 17.2% in the fourth quarter. Bridgewater Associates LP now owns 265,700 shares of the company’s stock valued at $1,345,000 after buying an additional 39,000 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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