Encana Corp. (NYSE:ECA) – Equities researchers at Jefferies Group increased their FY2016 earnings per share (EPS) estimates for Encana Corp. in a research report issued on Wednesday. Jefferies Group analyst J. Wolff now anticipates that the brokerage will post earnings per share of $0.00 for the year, up from their prior forecast of ($0.02). Jefferies Group currently has a “Buy” rating and a $14.00 target price on the stock. Jefferies Group also issued estimates for Encana Corp.’s Q4 2016 earnings at $0.04 EPS.
Several other brokerages also recently commented on ECA. Deutsche Bank AG raised their price target on shares of Encana Corp. from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday. Macquarie raised shares of Encana Corp. from an “underperform” rating to a “neutral” rating in a report on Thursday. GMP Securities raised shares of Encana Corp. from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Thursday. Credit Suisse Group AG assumed coverage on shares of Encana Corp. in a report on Thursday. They set an “outperform” rating and a $14.00 price objective for the company. Finally, BMO Capital Markets set a $14.00 price objective on shares of Encana Corp. and gave the stock a “buy” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $11.46.
Shares of Encana Corp. (NYSE:ECA) opened at 10.86 on Monday. The firm’s 50-day moving average is $9.92 and its 200-day moving average is $8.13. The company’s market cap is $9.23 billion. Encana Corp. has a 12 month low of $3.00 and a 12 month high of $11.23.
Encana Corp. (NYSE:ECA) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.19. Encana Corp. had a negative net margin of 81.73% and a positive return on equity of 0.79%. During the same quarter in the previous year, the company earned ($0.20) EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.55%. The ex-dividend date was Tuesday, September 13th. Encana Corp.’s payout ratio is currently -1.79%.
A number of large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Encana Corp. during the fourth quarter valued at approximately $33,438,000. BlackRock Inc. raised its stake in Encana Corp. by 7,416.7% in the first quarter. BlackRock Inc. now owns 473,551 shares of the company’s stock valued at $2,884,000 after buying an additional 467,251 shares during the last quarter. BlackRock Group LTD raised its stake in Encana Corp. by 7,634.4% in the first quarter. BlackRock Group LTD now owns 13,148,536 shares of the company’s stock valued at $80,074,000 after buying an additional 12,978,536 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Encana Corp. during the first quarter valued at approximately $187,000. Finally, Bessemer Group Inc. raised its stake in Encana Corp. by 50.1% in the first quarter. Bessemer Group Inc. now owns 60,528 shares of the company’s stock valued at $368,000 after buying an additional 20,210 shares during the last quarter. 57.44% of the stock is currently owned by institutional investors and hedge funds.
About Encana Corp.