Trade Report: The Encana Corp. (ECA) Price Target Raised to $14.00

The Encana Corp. (ECA) Price Target Raised to $14.00

Encana Corp. (NYSE:ECA) had its target price hoisted by Jefferies Group from $13.00 to $14.00 in a research note released on Thursday morning. The firm currently has a buy rating on the stock.

A number of other brokerages have also weighed in on ECA. Nomura lifted their price target on Encana Corp. from $12.00 to $15.00 and gave the company a buy rating in a research report on Monday, September 12th. Deutsche Bank AG upped their price target on Encana Corp. from $10.00 to $11.00 and gave the stock a buy rating in a research note on Tuesday, June 14th. BMO Capital Markets reaffirmed a buy rating on shares of Encana Corp. in a research note on Wednesday, June 22nd. Citigroup Inc. raised Encana Corp. from a neutral rating to a buy rating and upped their price target for the stock from $10.00 to $13.00 in a research note on Friday, September 30th. Finally, Barclays PLC upped their price target on Encana Corp. from $6.00 to $7.00 and gave the stock an equal weight rating in a research note on Thursday, July 14th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $11.88.

Encana Corp. (NYSE:ECA) opened at 11.08 on Thursday. The firm’s 50 day moving average price is $9.97 and its 200-day moving average price is $8.22. Encana Corp. has a 12-month low of $3.00 and a 12-month high of $11.31. The company’s market capitalization is $9.42 billion.

Encana Corp. (NYSE:ECA) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.19. Encana Corp. had a positive return on equity of 0.79% and a negative net margin of 81.73%. During the same period last year, the company posted ($0.20) EPS. On average, equities analysts anticipate that Encana Corp. will post ($0.04) earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Tuesday, September 13th. Encana Corp.’s dividend payout ratio (DPR) is currently -1.79%.

Several hedge funds and other institutional investors have recently bought and sold shares of ECA. AXA increased its position in Encana Corp. by 14.3% in the first quarter. AXA now owns 32,273 shares of the company’s stock valued at $198,000 after buying an additional 4,040 shares during the period. Quadrature Capital Ltd bought a new position in Encana Corp. during the first quarter valued at approximately $2,257,000. UBS Asset Management Americas Inc. increased its position in Encana Corp. by 8.6% in the first quarter. UBS Asset Management Americas Inc. now owns 2,120,040 shares of the company’s stock valued at $12,982,000 after buying an additional 168,638 shares during the period. BB&T Securities LLC increased its position in Encana Corp. by 22.6% in the first quarter. BB&T Securities LLC now owns 17,754 shares of the company’s stock valued at $108,000 after buying an additional 3,270 shares during the period. Finally, Credit Agricole S A increased its position in Encana Corp. by 4.3% in the first quarter. Credit Agricole S A now owns 93,980 shares of the company’s stock valued at $573,000 after buying an additional 3,867 shares during the period. 57.44% of the stock is currently owned by hedge funds and other institutional investors.

Encana Corp. Company Profile

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