Encana Corp. (ECA) Shares Up 4.1%
Shares of Encana Corp. (NYSE:ECA) shot up 4.1% during 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 trading hands. The stock had previously closed at $9.43.
Several brokerages have commented on ECA. 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 note on Wednesday, June 1st. Zacks Investment Research downgraded Encana Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. BMO Capital Markets reiterated a “buy” rating on shares of Encana Corp. in a research note on Wednesday, June 22nd. Deutsche Bank AG reiterated a “buy” rating and set a $8.00 target price on shares of Encana Corp. in a research note on Thursday, May 19th. Finally, FirstEnergy Capital downgraded Encana Corp. from a “market perform” rating to an “underperform” rating in a research note on Wednesday, May 18th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $8.56.
The company’s 50 day moving average price is $8.88 and its 200-day moving average price is $7.22. The firm’s market cap is $8.32 billion.
Encana Corp. (NYSE:ECA) last released its earnings results on Thursday, July 21st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.19. During the same period last year, the company earned ($0.20) earnings per share. Equities analysts predict 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. Investors of record on Thursday, September 15th will be given a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Tuesday, September 13th.
A hedge fund recently raised its stake in Encana Corp. stock. Wells Fargo & Company MN boosted its stake in shares of Encana Corp. (NYSE:ECA) by 88.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 approximately 0.22% of Encana Corp. worth $9,572,000 at the end of the most recent 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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