Encana Corp. (ECA) Shares Down 1.4%
Encana Corp. (NYSE:ECA)’s share price fell 1.4% during trading on Friday . The company traded as low as $8.06 and last traded at $8.17, with a volume of 6,350,526 shares traded. The stock had previously closed at $8.29.
A number of research firms have recently commented on ECA. BMO Capital Markets restated a “buy” rating and issued a $10.00 price objective on shares of Encana Corp. in a report on Friday. Barclays PLC raised their price objective on Encana Corp. from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Thursday, July 14th. Zacks Investment Research downgraded Encana Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. AltaCorp Capital downgraded Encana Corp. from an “outperform” rating to a “speculative” rating in a report on Thursday, July 7th. Finally, Macquarie downgraded Encana Corp. from a “neutral” rating to an “underperform” rating in a report on Thursday, June 23rd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.67.
The stock’s market capitalization is $7.00 billion. The company has a 50-day moving average of $8.02 and a 200 day moving average of $6.21.
Encana Corp. (NYSE:ECA) last issued its earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.19. During the same period in the previous year, the company posted ($0.20) earnings per share. Equities research analysts expect that Encana Corp. will post ($0.23) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.015 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.73%.
Other hedge funds recently added to or reduced their stakes in the company. State of Wisconsin Investment Board increased its stake in Encana Corp. by 67.8% in the fourth quarter. State of Wisconsin Investment Board now owns 731,847 shares of the company’s stock valued at $3,704,000 after buying an additional 295,700 shares during the period. First Trust Advisors LP increased its stake in Encana Corp. by 0.8% in the fourth quarter. First Trust Advisors LP now owns 863,956 shares of the company’s stock valued at $4,398,000 after buying an additional 7,128 shares during the period. Wells Fargo & Company MN increased its stake in Encana Corp. by 88.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,880,440 shares of the company’s stock valued at $9,572,000 after buying an additional 882,374 shares during the period. Trexquant Investment LP bought a new stake in Encana Corp. during the fourth quarter valued at about $1,602,000. Finally, Morgan Stanley increased its stake in Encana Corp. by 23.1% in the fourth quarter. Morgan Stanley now owns 2,944,743 shares of the company’s stock valued at $14,990,000 after buying an additional 552,204 shares during the period.
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.