Encana Corp. (ECA) Given New $15.00 Price Target at Deutsche Bank AG
Encana Corp. (NYSE:ECA) had its price objective increased by Deutsche Bank AG from $13.00 to $15.00 in a report published on Thursday, StockTargetPrices.com reports. They currently have a buy rating on the stock.
A number of other research firms have also recently issued reports on ECA. Nomura raised their price objective on Encana Corp. from $12.00 to $15.00 and gave the company a buy rating in a research report on Monday, September 12th. Zacks Investment Research cut Encana Corp. from a buy rating to a hold rating in a research report on Wednesday, July 13th. BMO Capital Markets reaffirmed a buy rating and issued a $10.00 price objective on shares of Encana Corp. in a research report on Friday, July 22nd. Royal Bank Of Canada cut their price objective on 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. Finally, AltaCorp Capital cut Encana Corp. from a sector perform rating to an underperform rating in a research report on Friday, July 22nd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $11.11.
Shares of Encana Corp. (NYSE:ECA) traded down 0.979% during mid-day trading on Thursday, reaching $10.625. The company had a trading volume of 9,595,502 shares. Encana Corp. has a 12-month low of $3.00 and a 12-month high of $11.23. The firm’s 50 day moving average is $9.90 and its 200-day moving average is $8.10. The stock’s market capitalization is $9.03 billion.
Encana Corp. (NYSE:ECA) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business earned ($0.20) earnings per share. On average, analysts expect that Encana Corp. will post ($0.04) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.56%. Encana Corp.’s payout ratio is currently -1.79%.
Several hedge funds have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. acquired a new stake in Encana Corp. during the third quarter worth $171,000. BB&T Securities LLC raised its stake in Encana Corp. by 22.6% in the first quarter. BB&T Securities LLC now owns 17,754 shares of the company’s stock worth $108,000 after buying an additional 3,270 shares during the last quarter. Carnick & Kubik Group LLC acquired a new stake in Encana Corp. during the second quarter worth $154,000. Stevens Capital Management LP acquired a new stake in Encana Corp. during the second quarter worth $165,000. Finally, Loomis Sayles & Co. L P raised its stake in Encana Corp. by 39.6% in the first quarter. Loomis Sayles & Co. L P now owns 21,274 shares of the company’s stock worth $130,000 after buying an additional 6,036 shares during the last quarter. Hedge funds and other institutional investors own 64.68% of the company’s stock.
Encana Corp. Company Profile
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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