Encana Corp. (ECA) Lifted to “Buy” at GMP Securities
GMP Securities upgraded shares of Encana Corp. (NYSE:ECA) from a hold rating to a buy rating in a research note issued to investors on Thursday. The brokerage currently has $13.00 price target on the stock.
A number of other equities research analysts have also weighed in on ECA. Deutsche Bank AG lifted their target price on Encana Corp. from $10.00 to $11.00 and gave the company a buy rating in a research report on Tuesday, June 14th. Jefferies Group reaffirmed a buy rating and set a $12.00 target price on shares of Encana Corp. in a research report on Thursday, June 23rd. Macquarie lowered Encana Corp. from a neutral rating to an underperform rating in a research report on Thursday, June 23rd. BMO Capital Markets reissued a buy rating on shares of Encana Corp. in a research report on Wednesday, June 22nd. Finally, AltaCorp Capital lowered Encana Corp. from an outperform rating to a speculative rating in a research report on Thursday, July 7th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $11.88.
Encana Corp. (NYSE:ECA) opened at 11.09 on Thursday. The firm has a 50-day moving average price of $9.94 and a 200-day moving average price of $8.20. Encana Corp. has a 12-month low of $3.00 and a 12-month high of $11.31. The company’s market cap is $9.43 billion.
Encana Corp. (NYSE:ECA) last issued its earnings results on Thursday, July 21st. The company reported $0.10 earnings per share 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 quarter last year, the firm posted ($0.20) earnings per share. On average, analysts forecast that Encana Corp. will post ($0.04) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.54%. Encana Corp.’s dividend payout ratio (DPR) is presently -1.79%.
Several institutional investors have recently modified their holdings of ECA. BNP Paribas Arbitrage SA boosted its position in Encana Corp. by 58.3% in the third quarter. BNP Paribas Arbitrage SA now owns 231,104 shares of the company’s stock worth $2,420,000 after buying an additional 85,116 shares during the last quarter. Eqis Capital Management Inc. acquired a new position in Encana Corp. during the third quarter worth $171,000. Carnick & Kubik Group LLC acquired a new position in Encana Corp. during the second quarter worth $154,000. Stifel Financial Corp boosted its position in Encana Corp. by 181.2% in the second quarter. Stifel Financial Corp now owns 390,942 shares of the company’s stock worth $3,045,000 after buying an additional 251,891 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Encana Corp. by 2.1% in the second quarter. Legal & General Group Plc now owns 4,886,413 shares of the company’s stock worth $37,841,000 after buying an additional 100,674 shares during the last quarter. 57.44% of the stock is owned by institutional investors and hedge funds.
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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