Shares of Encana Corp (NYSE:ECA) (TSE:ECA) have been assigned an average rating of “Buy” from the twenty-six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $14.45.
Several analysts have recently commented on the stock. Scotiabank raised their price objective on shares of Encana from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 19th. GMP Securities reaffirmed a “buy” rating and set a $16.00 price objective on shares of Encana in a research report on Friday, September 29th. National Bank Financial raised their price objective on shares of Encana from $14.00 to $14.50 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Sanford C. Bernstein raised shares of Encana from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $10.00 to $14.00 in a research report on Friday, September 15th. Finally, Zacks Investment Research raised shares of Encana from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Tuesday, October 17th.
Several institutional investors and hedge funds have recently modified their holdings of ECA. BNP Paribas Arbitrage SA lifted its holdings in shares of Encana by 6.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 146,975 shares of the oil and gas company’s stock worth $1,293,000 after purchasing an additional 9,012 shares in the last quarter. Blair William & Co. IL lifted its stake in Encana by 2.5% during the 2nd quarter. Blair William & Co. IL now owns 45,472 shares of the oil and gas company’s stock valued at $400,000 after acquiring an additional 1,115 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Encana by 1.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 455,896 shares of the oil and gas company’s stock valued at $4,005,000 after acquiring an additional 5,918 shares in the last quarter. Pacad Investment Ltd. bought a new position in Encana during the 2nd quarter valued at $396,000. Finally, Oppenheimer Asset Management Inc. lifted its stake in Encana by 61.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 217,222 shares of the oil and gas company’s stock valued at $1,911,000 after acquiring an additional 82,706 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Thursday, December 14th. Encana’s dividend payout ratio is currently 7.60%.
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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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