Encana Corporation (ECA) Price Target Raised to $15.00 at TD Securities
Encana Corporation (NYSE:ECA) (TSE:ECA) had its target price boosted by TD Securities from $14.50 to $15.00 in a research report report published on Thursday morning. TD Securities currently has a buy rating on the oil and gas company’s stock.
ECA has been the subject of several other research reports. BidaskClub upgraded shares of Encana Corporation from a strong sell rating to a sell rating in a research note on Wednesday, July 12th. Jefferies Group LLC set a $14.00 price target on shares of Encana Corporation and gave the stock a buy rating in a research note on Wednesday, July 19th. Royal Bank Of Canada restated an outperform rating and set a $13.00 price target (up previously from $12.00) on shares of Encana Corporation in a research note on Thursday, July 20th. Zacks Investment Research lowered shares of Encana Corporation from a hold rating to a sell rating in a research note on Friday, July 21st. Finally, Citigroup Inc. decreased their price target on shares of Encana Corporation from $14.00 to $13.00 and set a buy rating for the company in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $14.39.
Encana Corporation (NYSE ECA) traded down $0.04 during trading on Thursday, hitting $12.65. 6,896,600 shares of the company’s stock traded hands, compared to its average volume of 12,135,194. Encana Corporation has a 1 year low of $8.01 and a 1 year high of $13.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.61 and a current ratio of 1.61. The company has a market cap of $12,309.90, a PE ratio of 31.63, a P/E/G ratio of 3.57 and a beta of 2.17.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Thursday, December 14th. Encana Corporation’s dividend payout ratio is currently 7.60%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Stevens Capital Management LP purchased a new stake in Encana Corporation in the second quarter worth about $102,000. Gotham Asset Management LLC purchased a new stake in Encana Corporation in the second quarter worth about $109,000. Atria Investments LLC purchased a new stake in Encana Corporation in the second quarter worth about $113,000. Equity Investment Corp Acquisition Inc grew its holdings 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 purchasing an additional 666 shares during the period. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Encana Corporation in the second quarter worth about $118,000. Institutional investors and hedge funds own 67.38% of the company’s stock.
About Encana Corporation
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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