Encana (ECA) Stock Rating Lowered by Desjardins

Desjardins lowered shares of Encana (NYSE:ECA) (TSE:ECA) from a buy rating to a hold rating in a research note published on Friday, Marketbeat reports. Desjardins currently has $13.00 price target on the oil and gas company’s stock, down from their previous price target of $17.00.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Encana from a buy rating to a hold rating in a report on Monday, August 6th. ValuEngine upgraded Encana from a hold rating to a buy rating in a report on Thursday, August 2nd. National Bank Financial raised their price objective on Encana from $18.00 to $22.00 and gave the company a $12.96 rating in a report on Wednesday, July 18th. CIBC cut Encana from a neutral rating to a sector underperform rating in a report on Thursday. Finally, TD Securities set a $17.00 price objective on Encana and gave the company a buy rating in a report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $15.36.

Shares of NYSE ECA traded down $0.41 during mid-day trading on Friday, hitting $8.55. The company had a trading volume of 63,446,589 shares, compared to its average volume of 18,256,300. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.78 and a beta of 2.15. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.73 and a quick ratio of 0.73. Encana has a one year low of $8.44 and a one year high of $14.31.

Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Encana had a positive return on equity of 9.46% and a negative net margin of 3.98%. On average, sell-side analysts expect that Encana will post 0.7 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Thursday, December 13th. Encana’s payout ratio is currently 13.95%.

A number of institutional investors have recently bought and sold shares of ECA. Guggenheim Capital LLC grew its holdings in Encana by 25.7% during the first quarter. Guggenheim Capital LLC now owns 47,981 shares of the oil and gas company’s stock worth $528,000 after purchasing an additional 9,810 shares during the period. Suntrust Banks Inc. bought a new position in Encana during the first quarter worth about $165,000. Clinton Group Inc. acquired a new stake in Encana during the second quarter worth approximately $131,000. Hexavest Inc. acquired a new stake in Encana during the second quarter worth approximately $14,634,000. Finally, Addenda Capital Inc. lifted its position in Encana by 114.8% during the second quarter. Addenda Capital Inc. now owns 2,122,805 shares of the oil and gas company’s stock worth $25,670,000 after acquiring an additional 1,134,650 shares during the last quarter. Institutional investors and hedge funds own 67.32% of the company’s stock.

About Encana

Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company holds interests in various assets, including the Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.

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Analyst Recommendations for Encana (NYSE:ECA)

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