BMO Capital Markets reiterated their buy rating on shares of Encana Corporation (NYSE:ECA) (TSE:ECA) in a report published on Tuesday, June 27th, MarketBeat reports. The brokerage currently has a $12.00 price target on the oil and gas company’s stock.
ECA has been the topic of several other research reports. Desjardins set a $13.00 target price on Encana Corporation and gave the company a hold rating in a report on Thursday, April 20th. Macquarie lowered Encana Corporation from an outperform rating to a neutral rating in a report on Wednesday, June 21st. Canaccord Genuity reissued a buy rating and issued a $14.00 target price on shares of Encana Corporation in a report on Saturday, March 11th. BidaskClub lowered Encana Corporation from a sell rating to a strong sell rating in a report on Friday, June 23rd. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $14.00 price objective on shares of Encana Corporation in a research note on Monday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $13.29.
Encana Corporation (NYSE ECA) traded up 1.882% during midday trading on Tuesday, reaching $10.015. 7,059,286 shares of the company were exchanged. Encana Corporation has a 52 week low of $7.50 and a 52 week high of $13.85. The stock has a market capitalization of $9.74 billion, a P/E ratio of 11.937 and a beta of 2.02. The firm’s 50 day moving average price is $9.02 and its 200-day moving average price is $10.98.
Encana Corporation (NYSE:ECA) (TSE:ECA) last posted its earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.15. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $773.19 million. Encana Corporation had a return on equity of 6.37% and a net margin of 19.09%. During the same quarter in the prior year, the company earned $0.10 earnings per share. Equities analysts forecast that Encana Corporation will post $0.36 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.015 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.06 annualized dividend and a yield of 0.61%. Encana Corporation’s dividend payout ratio is presently 6.98%.
Large investors have recently bought and sold shares of the company. Causeway Capital Management LLC increased its stake in Encana Corporation by 95.2% in the first quarter. Causeway Capital Management LLC now owns 48,768,776 shares of the oil and gas company’s stock valued at $571,082,000 after buying an additional 23,779,815 shares in the last quarter. Vanguard Group Inc. increased its stake in Encana Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 22,637,700 shares of the oil and gas company’s stock valued at $265,086,000 after buying an additional 994,074 shares in the last quarter. FMR LLC raised its position in shares of Encana Corporation by 6.3% in the first quarter. FMR LLC now owns 22,080,449 shares of the oil and gas company’s stock valued at $258,686,000 after buying an additional 1,309,218 shares during the last quarter. BlackRock Inc. raised its position in shares of Encana Corporation by 11,232.3% in the first quarter. BlackRock Inc. now owns 21,896,113 shares of the oil and gas company’s stock valued at $256,403,000 after buying an additional 21,702,894 shares during the last quarter. Finally, Steadfast Capital Management LP raised its position in shares of Encana Corporation by 12.2% in the first quarter. Steadfast Capital Management LP now owns 19,974,573 shares of the oil and gas company’s stock valued at $233,902,000 after buying an additional 2,164,300 shares during the last quarter. Institutional investors own 72.64% 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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