Encana Corp. (ECA) Reaches New 1-Year High at $10.11
Shares of Encana Corp. (NYSE:ECA) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $10.11 and last traded at $9.99, with a volume of 7,961,371 shares. The stock had previously closed at $9.51.
A number of analysts recently issued reports on the stock. Jefferies Group reissued a “buy” rating on shares of Encana Corp. in a report on Thursday, August 11th. BMO Capital Markets reissued a “buy” rating and set a $10.00 price target on shares of Encana Corp. in a report on Friday, July 22nd. AltaCorp Capital downgraded shares of Encana Corp. from a “sector perform” rating to an “underperform” rating in a report on Friday, July 22nd. Macquarie downgraded shares of Encana Corp. from a “neutral” rating to an “underperform” rating in a report on Thursday, June 23rd. Finally, Zacks Investment Research cut shares of Encana Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. 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’s stock. The stock has an average rating of “Hold” and an average price target of $8.45.
The stock’s market capitalization is $8.61 billion. The stock has a 50 day moving average of $8.19 and a 200-day moving average of $6.76.
Encana Corp. (NYSE:ECA) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.19. During the same quarter in the previous year, the business earned ($0.20) earnings per share. On average, equities analysts predict that Encana Corp. will post ($0.09) EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given 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 0.63%.
Several large investors recently modified their holdings of ECA. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Encana Corp. by 138.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,986,175 shares of the company’s stock valued at $25,234,000 after buying an additional 2,891,275 shares during the last quarter. Wells Fargo & Company MN raised 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 valued at $9,572,000 after buying an additional 882,374 shares during the last quarter. Morgan Stanley raised its stake in shares of 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 last quarter. Trexquant Investment LP bought a new stake in shares of Encana Corp. during the fourth quarter valued at approximately $1,602,000. Finally, Bridgewater Associates LP raised its stake in shares of Encana Corp. by 17.2% in the fourth quarter. Bridgewater Associates LP now owns 265,700 shares of the company’s stock valued at $1,345,000 after buying an additional 39,000 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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