Encana Corporation (ECA) Price Target Raised to $14.50 at National Bank Financial
Encana Corporation (NYSE:ECA) (TSE:ECA) had its target price increased by National Bank Financial from $14.00 to $14.50 in a report released on Thursday morning. National Bank Financial currently has an outperform rating on the oil and gas company’s stock.
ECA has been the topic of a number of other research reports. Citigroup Inc. dropped their target price on Encana Corporation from $14.00 to $13.00 and set a buy rating on the stock in a report on Friday, July 21st. Scotiabank raised their target price on Encana Corporation from $12.00 to $13.00 and gave the company a sector perform rating in a report on Thursday, October 19th. GMP Securities restated a buy rating and issued a $16.00 target price on shares of Encana Corporation in a report on Friday, September 29th. Raymond James Financial, Inc. raised their target price on Encana Corporation from $14.00 to $15.00 and gave the company a strong-buy rating in a report on Monday, July 24th. Finally, TD Securities raised their target price on Encana Corporation from $11.50 to $12.50 and gave the company a buy rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $14.39.
Encana Corporation (NYSE ECA) traded down $0.04 during mid-day trading on Thursday, hitting $12.65. The stock had a trading volume of 6,799,637 shares, compared to its average volume of 12,135,194. Encana Corporation has a 52 week low of $8.01 and a 52 week high of $13.85. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $12,390.00, a price-to-earnings ratio of 31.50, a PEG ratio of 3.27 and a beta of 2.17.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Thursday, December 14th. Encana Corporation’s dividend payout ratio is currently 7.50%.
Large investors have recently added to or reduced their stakes in the business. Stevens Capital Management LP purchased a new stake in Encana Corporation in the second quarter worth $102,000. Gotham Asset Management LLC purchased a new stake in Encana Corporation in the second quarter worth $109,000. Atria Investments LLC purchased a new stake in Encana Corporation in the second quarter worth $113,000. Equity Investment Corp Acquisition Inc increased its position in Encana Corporation by 5.4% in the second quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock worth $114,000 after buying an additional 666 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Encana Corporation in the second quarter worth $118,000. 67.00% of the stock is owned by institutional investors and hedge funds.
Encana Corporation Company Profile
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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