Encana Corp. (NYSE:ECA) – Investment analysts at Jefferies Group dropped their Q1 2017 earnings estimates for shares of Encana Corp. in a report released on Wednesday. Jefferies Group analyst J. Wolff now expects that the brokerage will earn $0.01 per share for the quarter, down from their prior forecast of $0.03. Jefferies Group has a “Buy” rating and a $14.00 price objective on the stock. Jefferies Group also issued estimates for Encana Corp.’s Q2 2017 earnings at $0.04 EPS, Q3 2017 earnings at $0.07 EPS, Q4 2017 earnings at $0.15 EPS and FY2017 earnings at $0.27 EPS.
Encana Corp. (NYSE:ECA) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ 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 quarter in the previous year, the firm earned ($0.20) EPS.
Several other equities analysts have also recently weighed in on ECA. Deutsche Bank AG raised their price target on Encana Corp. from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, June 14th. Macquarie cut Encana Corp. from a “neutral” rating to an “underperform” rating in a report on Thursday, June 23rd. BMO Capital Markets reaffirmed a “buy” rating on shares of Encana Corp. in a research report on Wednesday, June 22nd. AltaCorp Capital lowered Encana Corp. from an “outperform” rating to a “speculative” rating in a research report on Thursday, July 7th. Finally, Zacks Investment Research lowered Encana Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Three 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’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.11.
Shares of Encana Corp. (NYSE:ECA) traded up 0.419% during midday trading on Friday, hitting $10.775. The stock had a trading volume of 11,159,741 shares. The firm’s market cap is $9.16 billion. Encana Corp. has a 12 month low of $3.00 and a 12 month high of $11.23. The stock’s 50 day moving average price is $9.90 and its 200 day moving average price is $8.10.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Tuesday, September 13th. Encana Corp.’s dividend payout ratio is presently -1.79%.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position 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 in the last quarter. BlackRock Group LTD increased its position in shares of Encana Corp. by 7,634.4% in the first quarter. BlackRock Group LTD now owns 13,148,536 shares of the company’s stock worth $80,074,000 after buying an additional 12,978,536 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Encana Corp. during the second quarter worth $54,865,000. Norges Bank bought a new position in shares of Encana Corp. during the fourth quarter worth $33,438,000. Finally, Key Group Holdings Cayman LTD. bought a new position in shares of Encana Corp. during the second quarter worth $39,161,000. 64.68% of the stock is owned by institutional investors.
About Encana Corp.