Encana Corp. (ECA) Downgraded by Societe Generale
A number of other brokerages have also recently weighed in 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 report on Monday, September 12th. Zacks Investment Research cut Encana Corp. from a buy rating to a hold rating in a report on Wednesday, July 13th. Deutsche Bank AG reissued a buy rating and set a $13.00 price objective (down from $15.00) on shares of Encana Corp. in a report on Thursday, September 29th. BMO Capital Markets reissued a buy rating and set a $10.00 price objective on shares of Encana Corp. in a report on Friday, July 22nd. Finally, Royal Bank Of Canada decreased their price objective 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. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $11.88.
Encana Corp. (NYSE:ECA) opened at 11.08 on Friday. The firm’s market cap is $9.42 billion. Encana Corp. has a 1-year low of $3.00 and a 1-year high of $11.31. The company has a 50-day moving average price of $9.97 and a 200-day moving average price of $8.22.
Encana Corp. (NYSE:ECA) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.10 earnings per share 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 posted ($0.20) EPS. On average, equities research analysts forecast that Encana Corp. will post ($0.04) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Tuesday, September 13th. Encana Corp.’s payout ratio is -1.79%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its position in shares of 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. bought a new position in shares of Encana Corp. during the third quarter worth about $171,000. Carnick & Kubik Group LLC bought a new position in shares of Encana Corp. during the second quarter worth about $154,000. Stifel Financial Corp boosted its position in shares of 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 shares of 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. Institutional investors and hedge funds own 57.44% 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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