Encana Corporation (NYSE:ECA) Receives Hold Rating from Desjardins
Desjardins reiterated their hold rating on shares of Encana Corporation (NYSE:ECA) (TSE:ECA) in a report published on Tuesday. Desjardins currently has a $13.50 price target on the oil and gas company’s stock.
ECA has been the topic of a number of other reports. Royal Bank Of Canada reaffirmed a buy rating and issued a $14.00 target price on shares of Encana Corporation in a report on Monday, May 29th. Scotiabank raised shares of Encana Corporation from an underperform rating to a sector perform rating and set a $11.00 target price on the stock in a report on Friday, June 30th. TD Securities dropped their target price on shares of Encana Corporation from $12.50 to $11.50 and set a hold rating on the stock in a report on Tuesday, June 13th. BidaskClub raised shares of Encana Corporation from a sell rating to a hold rating in a report on Wednesday, July 19th. Finally, Raymond James Financial, Inc. initiated coverage on shares of Encana Corporation in a report on Wednesday, May 31st. They issued an outperform rating and a $15.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $13.32.
Shares of Encana Corporation (NYSE ECA) traded down 1.26% during midday trading on Tuesday, hitting $10.16. The stock had a trading volume of 15,066,171 shares. The firm has a market capitalization of $9.89 billion, a PE ratio of 12.11 and a beta of 2.02. Encana Corporation has a 1-year low of $7.59 and a 1-year high of $13.85. The company’s 50 day moving average price is $9.13 and its 200-day moving average price is $10.87.
Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.15. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $773.19 million. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. During the same period in the prior year, the firm earned $0.10 EPS. Equities analysts predict that Encana Corporation will post $0.50 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.06 annualized dividend and a dividend yield of 0.59%. Encana Corporation’s dividend payout ratio is 6.98%.
Several hedge funds have recently bought and sold shares of ECA. Equity Investment Corp Acquisition Inc raised its stake in Encana Corporation by 10.7% in the first quarter. Equity Investment Corp Acquisition Inc now owns 12,330 shares of the oil and gas company’s stock valued at $144,000 after buying an additional 1,195 shares in the last quarter. Atria Investments LLC purchased a new stake in Encana Corporation during the second quarter valued at about $113,000. Quantitative Systematic Strategies LLC purchased a new stake in Encana Corporation during the second quarter valued at about $118,000. SG Americas Securities LLC purchased a new stake in Encana Corporation during the first quarter valued at about $166,000. Finally, United Services Automobile Association purchased a new stake in Encana Corporation during the first quarter valued at about $168,000. Institutional investors and hedge funds own 72.64% of the company’s stock.
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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