Encana Corp. (NYSE:ECA) (TSE:ECA) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a research report issued on Monday. They presently have a $12.02 price target on the stock. Vetr‘s price objective indicates a potential downside of 1.15% from the company’s current price.
Other equities research analysts have also issued research reports about the company. Nomura reiterated a “buy” rating and issued a $17.00 target price on shares of Encana Corp. in a research report on Monday, September 26th. KLR Group started coverage on Encana Corp. in a research report on Monday, August 29th. They issued a “hold” rating and a $10.00 target price on the stock. CIBC upgraded Encana Corp. to a “sector perform” rating and upped their target price for the company from $8.00 to $12.00 in a research report on Friday, September 30th. Deutsche Bank AG reiterated a “buy” rating and issued a $13.00 target price (down previously from $15.00) on shares of Encana Corp. in a research report on Thursday, September 29th. Finally, Barclays PLC upgraded Encana Corp. from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $10.00 to $14.00 in a research report on Tuesday, October 11th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $12.74.
Encana Corp. (NYSE:ECA) traded down 1.78% during midday trading on Monday, hitting $12.16. 4,787,042 shares of the stock traded hands. Encana Corp. has a 12 month low of $3.00 and a 12 month high of $12.55. The company’s 50 day moving average price is $10.78 and its 200 day moving average price is $9.12. The firm’s market cap is $11.83 billion.
Encana Corp. (NYSE:ECA) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. Encana Corp. had a negative net margin of 40.77% and a positive return on equity of 1.79%. During the same quarter in the prior year, the company earned ($0.03) EPS. Equities research analysts predict that Encana Corp. will post $0.02 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Tuesday, December 13th. Encana Corp.’s dividend payout ratio (DPR) is presently -3.97%.
Several hedge funds have recently modified their holdings of ECA. Vanguard Group Inc. increased its stake in shares of Encana Corp. by 9.8% in the second quarter. Vanguard Group Inc. now owns 17,708,640 shares of the company’s stock worth $137,950,000 after buying an additional 1,585,668 shares during the period. CIBC World Markets Inc. increased its stake in shares of Encana Corp. by 20.4% in the third quarter. CIBC World Markets Inc. now owns 14,613,153 shares of the company’s stock worth $153,000,000 after buying an additional 2,474,832 shares during the period. TD Asset Management Inc. increased its stake in shares of Encana Corp. by 4.0% in the third quarter. TD Asset Management Inc. now owns 7,780,681 shares of the company’s stock worth $81,167,000 after buying an additional 295,894 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Encana Corp. during the second quarter worth about $54,865,000. Finally, Contrarius Investment Management Ltd bought a new stake in shares of Encana Corp. during the third quarter worth about $60,448,000. 56.83% of the stock is owned by institutional investors and hedge funds.
Encana Corp. Company Profile
Encana Corp is a Canada-based energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). 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.