Encana Corp. (ECA) Upgraded at Macquarie
ECA has been the subject of several other reports. Deutsche Bank AG lifted their price target on shares of Encana Corp. from $10.00 to $11.00 and gave the company a buy rating in a report on Tuesday, June 14th. Scotiabank lowered shares of Encana Corp. from a sector perform rating to an underperform rating in a research note on Tuesday, September 20th. Zacks Investment Research lowered shares of Encana Corp. from a strong-buy rating to a hold rating in a research note on Wednesday, September 21st. CIBC raised shares of Encana Corp. to a sector perform rating and boosted their target price for the company from $8.00 to $12.00 in a research note on Friday, September 30th. Finally, RBC Capital Markets reissued a sector perform rating and set a $10.00 target price (up from $9.00) on shares of Encana Corp. in a research note on Monday, September 12th. Three equities 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. Encana Corp. presently has an average rating of Hold and a consensus price target of $11.88.
Encana Corp. (NYSE:ECA) opened at 11.08 on Thursday. Encana Corp. has a 1-year low of $3.00 and a 1-year high of $11.31. The firm’s market cap is $9.42 billion. The firm has a 50-day moving average of $9.97 and a 200 day moving average of $8.22.
Encana Corp. (NYSE:ECA) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 period last year, the firm posted ($0.20) earnings per share. On average, analysts predict that Encana Corp. will post ($0.04) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given 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 was Tuesday, September 13th. Encana Corp.’s payout ratio is presently -1.79%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Swiss National Bank increased its position in shares of 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 position in shares of Encana Corp. during the first quarter worth approximately $727,000. First Manhattan Co. increased its position in shares of Encana Corp. by 43.5% in the second quarter. First Manhattan Co. now owns 104,320 shares of the company’s stock worth $812,000 after buying an additional 31,602 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of 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. Finally, Seven Bridges Advisors LLC bought a new position in shares of Encana Corp. during the second quarter worth approximately $346,000. 57.44% of the stock is currently owned by hedge funds and other institutional investors.
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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