Encana Corp. (ECA) Stock Rating Lowered by Scotia Howard Weill
Encana Corp. (NYSE:ECA) was downgraded by research analysts at Scotia Howard Weill from a “sector perform” rating to an “underperform” rating in a research note issued on Tuesday.
Several other equities analysts have also commented on the company. KLR Group started coverage on Encana Corp. in a report on Monday, August 29th. They issued a “hold” rating and a $10.00 target price on the stock. Nomura increased their target price on Encana Corp. from $12.00 to $15.00 and gave the company a “buy” rating in a report on Monday, September 12th. Royal Bank Of Canada dropped their target price on Encana Corp. from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Monday, September 12th. Barclays PLC dropped their target price on Encana Corp. from $8.00 to $6.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 1st. Finally, Deutsche Bank AG increased their target price on Encana Corp. from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, June 14th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $9.71.
Encana Corp. (NYSE:ECA) opened at 9.35 on Tuesday. The stock has a 50 day moving average price of $9.57 and a 200 day moving average price of $7.78. Encana Corp. has a one year low of $3.00 and a one year high of $10.75. The firm’s market cap is $7.95 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 the 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 previous year, the company earned ($0.20) EPS. Equities research analysts expect that Encana Corp. will post ($0.10) EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.015 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.64%. Encana Corp.’s payout ratio is -1.79%.
Several large investors have recently bought and sold shares of ECA. First Manhattan Co. increased its stake in Encana Corp. by 70.1% in the first quarter. First Manhattan Co. now owns 72,718 shares of the company’s stock worth $442,000 after buying an additional 29,970 shares during the last quarter. Swiss National Bank increased its stake in Encana Corp. by 5.2% in the second quarter. Swiss National Bank now owns 4,808,100 shares of the company’s stock worth $37,219,000 after buying an additional 238,500 shares during the last quarter. Tobam bought a new stake in Encana Corp. during the first quarter worth about $727,000. Pacad Investment Ltd. bought a new stake in Encana Corp. during the first quarter worth about $1,518,000. Finally, UBS Asset Management Americas Inc. increased its stake 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 worth $12,982,000 after buying an additional 168,638 shares during the last quarter. 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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