Encana (ECA) Lowered to Sell at ValuEngine
ValuEngine lowered shares of Encana (NYSE:ECA) (TSE:ECA) from a hold rating to a sell rating in a research report report published on Friday morning.
Several other equities analysts have also issued reports on ECA. GMP Securities restated a buy rating and set a $15.50 target price on shares of Encana in a research report on Friday, February 23rd. Zacks Investment Research lowered Encana from a hold rating to a sell rating in a research report on Tuesday, February 13th. Societe Generale upgraded Encana from a hold rating to a buy rating and set a $15.00 target price for the company in a research report on Thursday, February 15th. They noted that the move was a valuation call. Sanford C. Bernstein upgraded Encana to a buy rating in a research report on Friday, February 16th. Finally, AltaCorp Capital upgraded Encana from a sector perform rating to an outperform rating in a report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Encana currently has an average rating of Buy and a consensus target price of $15.34.
Encana (NYSE:ECA) traded down $0.04 during trading on Friday, hitting $10.49. The stock had a trading volume of 11,448,220 shares, compared to its average volume of 8,340,000. The firm has a market cap of $10,220.00, a price-to-earnings ratio of 8.82, a P/E/G ratio of 1.41 and a beta of 2.13. Encana has a 52 week low of $8.01 and a 52 week high of $14.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.37 and a quick ratio of 1.61.
Encana announced that its board has approved a stock buyback plan on Thursday, February 15th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other news, Director Howard John Mayson bought 2,500 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were purchased at an average price of $10.53 per share, for a total transaction of $26,325.00. Following the purchase, the director now owns 25,104 shares of the company’s stock, valued at approximately $264,345.12. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Suzanne P. Nimocks bought 5,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was purchased at an average price of $10.62 per share, for a total transaction of $53,100.00. Following the purchase, the director now directly owns 10,600 shares in the company, valued at approximately $112,572. The disclosure for this purchase can be found here. Insiders acquired a total of 23,500 shares of company stock worth $256,395 in the last 90 days. Company insiders own 0.08% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commerce Bank acquired a new position in shares of Encana during the 3rd quarter worth approximately $118,000. Virtu Financial LLC acquired a new position in shares of Encana during the 3rd quarter worth approximately $131,000. Klingenstein Fields & Co. LLC acquired a new position in shares of Encana during the 4th quarter worth approximately $143,000. Prospera Financial Services Inc acquired a new position in shares of Encana during the 4th quarter worth approximately $153,000. Finally, Krilogy Financial LLC acquired a new position in shares of Encana during the 3rd quarter worth approximately $165,000. Hedge funds and other institutional investors own 69.54% of the company’s stock.
Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. 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 ValuEngine’s full report, visit ValuEngine’s official website.
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