Encana Corp. (ECA) Shares Down 5%
Encana Corp. (NYSE:ECA)’s share price traded down 5% on Monday . The stock traded as low as $7.64 and last traded at $7.65, with a volume of 3,401,064 shares trading hands. The stock had previously closed at $8.05.
Several equities analysts recently weighed in on the company. Barclays PLC cut their price target on Encana Corp. from $8.00 to $6.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 1st. Deutsche Bank AG lifted their price target on Encana Corp. from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, June 14th. Jefferies Group restated a “buy” rating and issued a $11.00 price target (up previously from $8.00) on shares of Encana Corp. in a research note on Wednesday, May 4th. FirstEnergy Capital upgraded Encana Corp. from an “underperform” rating to a “market perform” rating in a research note on Thursday, May 5th. Finally, Evercore ISI lowered Encana Corp. from a “buy” rating to a “hold” rating and cut their price target for the company from $9.00 to $8.00 in a research note on Friday, April 15th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Encana Corp. presently has a consensus rating of “Hold” and an average price target of $8.45.
The firm’s market cap is $6.72 billion. The company’s 50-day moving average price is $7.91 and its 200-day moving average price is $6.40.
Encana Corp. (NYSE:ECA) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.19. During the same quarter last year, the company posted ($0.20) earnings per share. On average, equities analysts anticipate that Encana Corp. will post ($0.14) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.77%.
A number of large investors have recently made changes to their positions in the stock. Gulf International Bank UK Ltd increased its stake 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 during the last quarter. Trexquant Investment LP purchased a new stake in shares of Encana Corp. during the fourth quarter worth approximately $1,602,000. State of Wisconsin Investment Board increased its stake in shares of Encana Corp. by 67.8% in the fourth quarter. State of Wisconsin Investment Board now owns 731,847 shares of the company’s stock worth $3,704,000 after buying an additional 295,700 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Encana Corp. by 0.8% in the fourth quarter. First Trust Advisors LP now owns 863,956 shares of the company’s stock worth $4,398,000 after buying an additional 7,128 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Encana Corp. by 88.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,880,440 shares of the company’s stock worth $9,572,000 after buying an additional 882,374 shares during 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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