Encana Corp (ECA) Given Consensus Rating of “Buy” by Brokerages
Encana Corp (NYSE:ECA) (TSE:ECA) has earned an average recommendation of “Buy” from the twenty-four research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, twenty-one have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $16.17.
A number of brokerages recently issued reports on ECA. ValuEngine raised shares of Encana from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Zacks Investment Research lowered shares of Encana from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. TD Securities set a $17.00 target price on shares of Encana and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Canaccord Genuity reaffirmed a “buy” rating and set a $19.00 target price on shares of Encana in a research report on Thursday, July 12th. Finally, National Bank Financial dropped their target price on shares of Encana from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, August 2nd.
A number of institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its holdings in Encana by 10.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 42,317 shares of the oil and gas company’s stock valued at $467,000 after buying an additional 4,082 shares during the period. Tower Research Capital LLC TRC increased its holdings in Encana by 15.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 34,320 shares of the oil and gas company’s stock valued at $449,000 after buying an additional 4,535 shares during the period. IFP Advisors Inc increased its holdings in Encana by 14.6% in the 1st quarter. IFP Advisors Inc now owns 48,765 shares of the oil and gas company’s stock valued at $536,000 after buying an additional 6,210 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Encana by 274.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,002 shares of the oil and gas company’s stock valued at $213,000 after buying an additional 6,600 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Encana by 37.2% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 26,310 shares of the oil and gas company’s stock worth $343,000 after purchasing an additional 7,140 shares during the last quarter. 68.03% of the stock is currently owned by hedge funds and other institutional investors.
Encana (NYSE:ECA) (TSE:ECA) last announced its earnings results on Wednesday, August 1st. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.09. Encana had a net margin of 1.49% and a return on equity of 7.30%. The business had revenue of $983.00 million for the quarter, compared to analyst estimates of $1.14 billion. research analysts predict that Encana will post 0.7 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend is Thursday, September 13th. This is a positive change from Encana’s previous quarterly dividend of $0.02. Encana’s payout ratio is 13.95%.
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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