Encana (ECA) Now Covered by MKM Partners
MKM Partners began coverage on shares of Encana (NYSE:ECA) (TSE:ECA) in a research report report published on Wednesday, Marketbeat.com reports. The brokerage issued a buy rating and a $12.00 price target on the oil and gas company’s stock.
Other research analysts have also issued reports about the company. Canaccord Genuity reaffirmed an average rating on shares of Encana in a research report on Wednesday, November 7th. Morgan Stanley set a $19.00 target price on Encana and gave the company a buy rating in a research report on Friday, October 12th. BMO Capital Markets reiterated a buy rating and set a $18.00 price target on shares of Encana in a research note on Thursday, October 11th. Zacks Investment Research upgraded Encana from a hold rating to a buy rating and set a $13.00 price target on the stock in a research note on Monday, October 22nd. Finally, Bank of America initiated coverage on Encana in a research note on Tuesday, September 18th. They set a buy rating and a $19.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $14.81.
Shares of NYSE:ECA opened at $6.43 on Wednesday. Encana has a 1 year low of $6.31 and a 1 year high of $14.31. The stock has a market cap of $6.16 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 0.38 and a beta of 2.06. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.57.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be paid a dividend of $0.015 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.06 annualized dividend and a yield of 0.93%. Encana’s payout ratio is presently 13.95%.
In related news, CEO Douglas James Suttles bought 50,000 shares of the stock in a transaction dated Monday, November 5th. The shares were purchased at an average price of $8.83 per share, for a total transaction of $441,500.00. Following the completion of the purchase, the chief executive officer now directly owns 134,212 shares of the company’s stock, valued at $1,185,091.96. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Sherri Anne Brillon bought 17,250 shares of the stock in a transaction dated Thursday, November 8th. The stock was bought at an average price of $8.85 per share, for a total transaction of $152,662.50. Following the purchase, the chief financial officer now directly owns 114,165 shares of the company’s stock, valued at $1,010,360.25. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 243,655 shares of company stock worth $2,089,214. Company insiders own 0.08% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ECA. FMR LLC boosted its stake in shares of Encana by 70.2% in the second quarter. FMR LLC now owns 41,979,114 shares of the oil and gas company’s stock worth $548,226,000 after buying an additional 17,318,112 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Encana by 24.5% in the third quarter. BlackRock Inc. now owns 27,563,490 shares of the oil and gas company’s stock worth $361,359,000 after buying an additional 5,428,023 shares during the last quarter. Morgan Stanley boosted its stake in shares of Encana by 34.2% in the second quarter. Morgan Stanley now owns 19,464,355 shares of the oil and gas company’s stock worth $254,011,000 after buying an additional 4,962,470 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Encana by 49.5% in the third quarter. Mackenzie Financial Corp now owns 11,543,103 shares of the oil and gas company’s stock worth $151,330,000 after buying an additional 3,820,692 shares during the last quarter. Finally, Steadfast Capital Management LP boosted its stake in shares of Encana by 14.2% in the third quarter. Steadfast Capital Management LP now owns 18,235,901 shares of the oil and gas company’s stock worth $239,073,000 after buying an additional 2,261,216 shares during the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.
Encana Company Profile
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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