Macquarie upgraded shares of Encana Corporation (NYSE:ECA) (TSE:ECA) from a neutral rating to an outperform rating in a research note released on Thursday, MarketBeat Ratings reports. Macquarie currently has $14.50 price target on the oil and gas company’s stock, up from their previous price target of $10.00.
A number of other equities analysts also recently issued reports on ECA. Raymond James Financial, Inc. began coverage on Encana Corporation in a research note on Wednesday, May 31st. They set an outperform rating and a $15.00 target price for the company. Zacks Investment Research cut Encana Corporation from a hold rating to a sell rating in a report on Friday, July 21st. Jefferies Group LLC restated a buy rating and issued a $12.00 price target (down from $13.00) on shares of Encana Corporation in a research note on Tuesday, August 29th. Barclays PLC restated an overweight rating and issued a $8.00 price target on shares of Encana Corporation in a research note on Saturday, July 22nd. Finally, Citigroup Inc. dropped their price objective on Encana Corporation from $14.00 to $13.00 and set a buy rating on the stock in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and four have issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $13.52.
Encana Corporation (NYSE:ECA) opened at 11.78 on Thursday. Encana Corporation has a 12-month low of $8.01 and a 12-month high of $13.85. The stock has a market cap of $11.46 billion, a PE ratio of 14.04 and a beta of 2.11. The firm has a 50-day moving average of $9.56 and a 200-day moving average of $10.10.
Encana Corporation (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.15. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $773.19 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. Equities analysts predict that Encana Corporation will post $0.51 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.015 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.06 annualized dividend and a dividend yield of 0.51%. Encana Corporation’s dividend payout ratio is currently 6.98%.
A number of institutional investors have recently bought and sold shares of the stock. Stevens Capital Management LP acquired a new position in Encana Corporation in the 2nd quarter valued at about $102,000. Gotham Asset Management LLC purchased a new position in Encana Corporation in the 2nd quarter valued at about $109,000. Atria Investments LLC purchased a new position in Encana Corporation in the 2nd quarter valued at about $113,000. Equity Investment Corp Acquisition Inc lifted its holdings in Encana Corporation by 5.4% in the 2nd quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock valued at $114,000 after purchasing an additional 666 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new position in Encana Corporation in the 2nd quarter valued at about $118,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.
About Encana Corporation
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.
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