Encana Corp.’s (ECA) Buy Rating Reiterated at Jefferies Group
Jefferies Group reiterated their buy rating on shares of Encana Corp. (NYSE:ECA) in a research note issued to investors on Tuesday morning. The brokerage currently has a $13.00 price objective on the stock.
A number of other research firms also recently commented on ECA. RBC Capital Markets reaffirmed a sector perform rating and set a $10.00 price objective (up from $9.00) on shares of Encana Corp. in a report on Monday, September 12th. Nomura raised their price objective on shares of Encana Corp. from $12.00 to $15.00 and gave the stock a buy rating in a report on Monday, September 12th. Royal Bank Of Canada dropped their target price on shares of Encana Corp. from $10.00 to $9.00 and set a sector perform rating for the company in a research report on Monday, September 12th. KLR Group assumed coverage on shares of Encana Corp. in a research report on Monday, August 29th. They set a hold rating and a $10.00 target price for the company. Finally, BMO Capital Markets reiterated a buy rating and set a $10.00 target price on shares of Encana Corp. in a research report on Friday, July 22nd. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Encana Corp. currently has an average rating of Hold and an average target price of $9.71.
Shares of Encana Corp. (NYSE:ECA) opened at 9.50 on Tuesday. The company’s 50-day moving average is $9.60 and its 200 day moving average is $7.79. The firm’s market capitalization is $8.07 billion. Encana Corp. has a 1-year low of $3.00 and a 1-year high of $10.75.
Encana Corp. (NYSE:ECA) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.19. Encana Corp. had a negative net margin of 81.73% and a positive return on equity of 0.79%. During the same quarter in the prior year, the business posted ($0.20) earnings per share. On average, analysts expect that Encana Corp. will post ($0.10) EPS for the current fiscal 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 issued 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 yield of 0.63%. Encana Corp.’s payout ratio is -1.79%.
A number of institutional investors have recently modified their holdings of ECA. Norges Bank purchased a new position in shares of Encana Corp. during the fourth quarter worth $33,438,000. First Manhattan Co. increased its position in shares of 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. Virginia Retirement System purchased a new position in shares of Encana Corp. during the first quarter worth $1,500,000. Pacad Investment Ltd. purchased a new position in shares of Encana Corp. during the first quarter worth $1,518,000. Finally, BlackRock Inc. increased its position in shares of Encana Corp. by 7,416.7% in the first quarter. BlackRock Inc. now owns 473,551 shares of the company’s stock worth $2,884,000 after buying an additional 467,251 shares during the last quarter. Institutional investors and hedge funds 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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