Encana Corp. (ECA) Given a $11.00 Price Target by Morgan Stanley Analysts
Encana Corp. (NYSE:ECA) received a $11.00 price objective from analysts at Morgan Stanley in a report issued on Tuesday. The firm currently has a a “hold” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 20.75% from the stock’s previous close.
Several other equities research analysts have also commented on the company. AltaCorp Capital lowered Encana Corp. from a “sector perform” rating to an “underperform” rating in a research note on Friday, July 22nd. FirstEnergy Capital upgraded Encana Corp. from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 26th. Macquarie lowered Encana Corp. from a “neutral” rating to an “underperform” rating in a research note on Thursday, June 23rd. KLR Group started coverage on Encana Corp. in a research note on Monday, August 29th. They set a “hold” rating and a $10.00 price objective for the company. Finally, Royal Bank Of Canada cut their price objective on Encana Corp. from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Monday, September 12th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $9.71.
Shares of Encana Corp. (NYSE:ECA) traded up 2.09% during midday trading on Tuesday, reaching $9.30. The company’s stock had a trading volume of 33,566,607 shares. The company’s market capitalization is $7.90 billion. Encana Corp. has a one year low of $3.00 and a one year high of $10.75. The stock’s 50-day moving average is $9.52 and its 200-day moving average is $7.76.
Encana Corp. (NYSE:ECA) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.19. Encana Corp. had a positive return on equity of 0.79% and a negative net margin of 81.73%. During the same quarter last year, the company posted ($0.20) earnings per share. On average, equities analysts expect that Encana Corp. will post ($0.10) earnings per share 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 paid a $0.015 dividend. 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 payout ratio is currently -1.79%.
Hedge funds have recently made changes to their positions in the stock. Carnick & Kubik Group LLC bought a new stake in shares of Encana Corp. during the second quarter valued at about $154,000. Stifel Financial Corp boosted its stake in shares of Encana Corp. by 181.2% in the second quarter. Stifel Financial Corp now owns 390,942 shares of the company’s stock valued at $3,045,000 after buying an additional 251,891 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Encana Corp. by 2.1% in the second quarter. Legal & General Group Plc now owns 4,886,413 shares of the company’s stock valued at $37,841,000 after buying an additional 100,674 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Encana Corp. during the second quarter valued at about $54,865,000. Finally, AQR Capital Management LLC boosted its stake in shares of Encana Corp. by 918.6% in the second quarter. AQR Capital Management LLC now owns 221,183 shares of the company’s stock valued at $1,712,000 after buying an additional 199,469 shares during the last quarter. Institutional investors and hedge funds own 64.68% of the company’s stock.
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.
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