Encana Corp. (ECA) Shares Up 4.1%
Encana Corp. (NYSE:ECA) shares shot up 4.1% during mid-day trading on Friday . The stock traded as high as $9.84 and last traded at $9.82, with a volume of 5,483,518 shares changing hands. The stock had previously closed at $9.43.
Several research firms have issued reports on ECA. BMO Capital Markets reaffirmed a “buy” rating and issued a $10.00 price target on shares of Encana Corp. in a report on Friday, July 22nd. Zacks Investment Research cut Encana Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Jefferies Group reaffirmed a “buy” rating and issued a $12.00 price target on shares of Encana Corp. in a report on Thursday, June 23rd. FirstEnergy Capital raised Encana Corp. from an “underperform” rating to a “market perform” rating in a report on Thursday, May 5th. Finally, AltaCorp Capital downgraded shares of Encana Corp. from a “sector perform” rating to an “underperform” rating in a research note on Friday, July 22nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $8.56.
The stock has a 50 day moving average price of $8.81 and a 200 day moving average price of $7.19. The firm’s market capitalization is $8.32 billion.
Encana Corp. (NYSE:ECA) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.19. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. On average, equities analysts anticipate that Encana Corp. will post ($0.09) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.06 annualized dividend and a yield of 0.61%.
An institutional investor recently raised its position in Encana Corp. stock. Wells Fargo & Company MN boosted its stake in Encana Corp. (NYSE:ECA) by 88.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,880,440 shares of the company’s stock after buying an additional 882,374 shares during the period. Wells Fargo & Company MN owned 0.22% of Encana Corp. worth $9,572,000 as of its most recent SEC filing.
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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