Encana Corp. (ECA) Trading 7% Higher
Encana Corp. (NYSE:ECA) traded up 7% during mid-day trading on Tuesday . The company traded as high as $8.17 and last traded at $8.15, with a volume of 11,920,990 shares traded. The stock had previously closed at $7.62.
A number of equities research analysts have recently issued reports on the company. Jefferies Group reaffirmed a “buy” rating and set a $11.00 target price (up from $8.00) on shares of Encana Corp. in a research report on Wednesday, May 4th. FirstEnergy Capital lowered Encana Corp. from a “market perform” rating to an “underperform” rating in a research report on Wednesday, May 18th. Macquarie lowered Encana Corp. from a “neutral” rating to an “underperform” rating in a research report on Thursday, June 23rd. Deutsche Bank AG reaffirmed a “buy” rating on shares of Encana Corp. in a research report on Thursday, March 24th. Finally, AltaCorp Capital lowered Encana Corp. from an “outperform” rating to a “speculative” rating in a research report on Thursday, July 7th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $8.59.
The firm’s market capitalization is $6.88 billion. The firm has a 50-day moving average of $7.94 and a 200-day moving average of $6.04.
Encana Corp. (NYSE:ECA) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. During the same period last year, the business earned $0.01 earnings per share. Equities analysts forecast that Encana Corp. will post ($0.30) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were given a $0.015 dividend. The ex-dividend date was Monday, June 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.79%.
Other institutional investors recently modified their holdings of the company. Gulf International Bank UK Ltd raised its position in shares of Encana Corp. by 1.1% in the fourth quarter. Gulf International Bank UK Ltd now owns 264,867 shares of the company’s stock worth $1,347,000 after buying an additional 3,000 shares in the last quarter. Korea Investment CORP bought a new position in shares of Encana Corp. during the fourth quarter worth $1,408,000. Trexquant Investment LP bought a new position in shares of Encana Corp. during the fourth quarter worth $1,602,000. Quantitative Investment Management LLC raised its position in shares of Encana Corp. by 1,403.5% in the fourth quarter. Quantitative Investment Management LLC now owns 557,800 shares of the company’s stock worth $2,839,000 after buying an additional 520,700 shares in the last quarter. Finally, Engineers Gate Manager LP raised its position in shares of Encana Corp. by 3,243.4% in the fourth quarter. Engineers Gate Manager LP now owns 621,866 shares of the company’s stock worth $3,165,000 after buying an additional 603,266 shares in the last quarter.
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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