Scotiabank downgraded shares of Encana Corp. (NYSE:ECA) from a sector perform rating to an underperform rating in a research note released on Tuesday.

Analyst Recommendations for Encana Corp. (NYSE:ECA)

Other equities research analysts have also recently issued research reports about the stock. Jefferies Group reaffirmed a buy rating and set a $13.00 price objective on shares of Encana Corp. in a research report on Tuesday. Zacks Investment Research raised shares of Encana Corp. from a hold rating to a strong-buy rating and set a $11.00 price objective for the company in a research report on Tuesday. BMO Capital Markets reaffirmed a buy rating and set a $10.00 price objective on shares of Encana Corp. in a research report on Friday, July 22nd. AltaCorp Capital cut shares of Encana Corp. from a sector perform rating to an underperform rating in a research report on Friday, July 22nd. Finally, RBC Capital Markets reaffirmed a sector perform rating and set a $10.00 price objective (up previously from $9.00) on shares of Encana Corp. in a research report on Monday, September 12th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $9.37.

Shares of Encana Corp. (NYSE:ECA) opened at 9.11 on Tuesday. The stock’s 50 day moving average is $9.52 and its 200 day moving average is $7.76. Encana Corp. has a 12 month low of $3.00 and a 12 month high of $10.75. The firm’s market cap is $7.74 billion.

Encana Corp. (NYSE:ECA) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.19. Encana Corp. had a negative net margin of 81.73% and a positive return on equity of 0.79%. During the same period in the prior year, the firm earned ($0.20) EPS. Analysts forecast that Encana Corp. will post ($0.10) EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Tuesday, September 13th. Encana Corp.’s dividend payout ratio (DPR) is -1.79%.

Several hedge funds have recently made changes to their positions in ECA. UBS Asset Management Americas Inc. increased its stake in shares of Encana Corp. by 8.6% in the first quarter. UBS Asset Management Americas Inc. now owns 2,120,040 shares of the company’s stock valued at $12,982,000 after buying an additional 168,638 shares during the period. BB&T Securities LLC increased its stake in shares of Encana Corp. by 22.6% in the first quarter. BB&T Securities LLC now owns 17,754 shares of the company’s stock valued at $108,000 after buying an additional 3,270 shares during the period. Credit Agricole S A increased its stake in shares of Encana Corp. by 4.3% in the first quarter. Credit Agricole S A now owns 93,980 shares of the company’s stock valued at $573,000 after buying an additional 3,867 shares during the period. JVL Advisors L.L.C. increased its stake in shares of Encana Corp. by 81.4% in the first quarter. JVL Advisors L.L.C. now owns 868,800 shares of the company’s stock valued at $5,291,000 after buying an additional 389,800 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Encana Corp. by 50.1% in the first quarter. Bessemer Group Inc. now owns 60,528 shares of the company’s stock valued at $368,000 after buying an additional 20,210 shares during the period. 64.68% of the stock is owned by institutional investors.

Encana Corp. Company Profile

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.

5 Day Chart for NYSE:ECA

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