Encana Corp. (ECA) Lifted to Buy at Vetr Inc.
Vetr upgraded shares of Encana Corp. (NYSE:ECA) (TSE:ECA) from a hold rating to a buy rating in a research report report published on Monday. The brokerage currently has $12.58 target price on the stock.
Several other equities research analysts have also recently issued reports on ECA. Nomura reaffirmed a buy rating and set a $17.00 price target on shares of Encana Corp. in a research note on Monday, September 26th. KLR Group began coverage on shares of Encana Corp. in a research note on Monday, August 29th. They set a hold rating and a $10.00 price target on the stock. CIBC raised shares of Encana Corp. to a sector perform rating and raised their price target for the stock from $8.00 to $12.00 in a research note on Friday, September 30th. Barclays PLC raised shares of Encana Corp. from an equal weight rating to an overweight rating and raised their price target for the stock from $10.00 to $14.00 in a research note on Tuesday, October 11th. Finally, Deutsche Bank AG reaffirmed a buy rating and set a $13.00 price target (down from $15.00) on shares of Encana Corp. in a research note on Thursday, September 29th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $12.77.
Shares of Encana Corp. (NYSE:ECA) opened at 12.60 on Monday. The company’s 50-day moving average is $10.85 and its 200 day moving average is $9.27. Encana Corp. has a 52 week low of $3.00 and a 52 week high of $12.79. The stock’s market capitalization is $12.26 billion.
Encana Corp. (NYSE:ECA) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.08. Encana Corp. had a negative net margin of 40.77% and a positive return on equity of 1.79%. During the same period in the previous year, the business posted ($0.03) EPS. On average, equities analysts forecast that Encana Corp. will post $0.02 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be paid a dividend of $0.015 per share. The ex-dividend date is Tuesday, December 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.48%. Encana Corp.’s dividend payout ratio is currently -3.97%.
Several hedge funds have recently bought and sold shares of ECA. Renaissance Technologies LLC bought a new stake in Encana Corp. during the first quarter worth $14,564,000. BNP Paribas Arbitrage SA increased its stake in Encana Corp. by 1,161.1% in the second quarter. BNP Paribas Arbitrage SA now owns 145,988 shares of the company’s stock worth $1,137,000 after buying an additional 134,412 shares during the last quarter. Nexus Investment Management Inc. increased its stake in Encana Corp. by 0.5% in the second quarter. Nexus Investment Management Inc. now owns 595,520 shares of the company’s stock worth $4,601,000 after buying an additional 3,050 shares during the last quarter. British Columbia Investment Management Corp increased its stake in Encana Corp. by 16.1% in the second quarter. British Columbia Investment Management Corp now owns 128,400 shares of the company’s stock worth $770,000 after buying an additional 17,800 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. increased its stake in Encana Corp. by 9.1% in the second quarter. NN Investment Partners Holdings N.V. now owns 33,567 shares of the company’s stock worth $262,000 after buying an additional 2,800 shares during the last quarter. Institutional investors own 64.44% 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.
To view Vetr’s full report, visit Vetr’s official website.
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