Trading Report: Today, Encana Corp. (ECA) Upgraded to Buy at KLR Group

Today, Encana Corp. (ECA) Upgraded to Buy at KLR Group

Encana Corp. (NYSE:ECA) (TSE:ECA) was upgraded by investment analysts at KLR Group from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage presently has a $14.00 price target on the stock, up from their previous price target of $12.00. KLR Group’s target price indicates a potential upside of 15.13% from the company’s previous close.

A number of other research firms also recently commented on ECA. Vetr downgraded shares of Encana Corp. from a “strong-buy” rating to a “sell” rating and set a $10.74 target price for the company. in a research report on Tuesday, October 18th. Jefferies Group reiterated a “buy” rating and set a $14.00 price target on shares of Encana Corp. in a research note on Wednesday, October 19th. Barclays PLC upgraded shares of Encana Corp. from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $10.00 to $14.00 in a research note on Tuesday, October 11th. GMP Securities upgraded shares of Encana Corp. from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Thursday, October 6th. Finally, Macquarie upgraded shares of Encana Corp. from an “underperform” rating to a “neutral” rating in a research note on Thursday, October 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $12.74.

Encana Corp. (NYSE:ECA) traded down 1.78% on Monday, reaching $12.16. The company had a trading volume of 4,790,342 shares. Encana Corp. has a 12-month low of $3.00 and a 12-month high of $12.55. The stock’s market capitalization is $11.83 billion. The stock’s 50 day moving average price is $10.82 and its 200-day moving average price is $9.17.

Encana Corp. (NYSE:ECA) last posted its earnings results on Thursday, November 3rd. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm posted ($0.03) earnings per share. Equities analysts expect that Encana Corp. will post $0.02 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be issued a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.06 annualized dividend and a yield of 0.49%. Encana Corp.’s payout ratio is -3.97%.

A number of institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. increased its position in shares of Encana Corp. by 13.9% in the third quarter. D.A. Davidson & CO. now owns 50,002 shares of the company’s stock valued at $523,000 after buying an additional 6,099 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Encana Corp. by 20,204.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 5,055,762 shares of the company’s stock valued at $52,933,000 after buying an additional 5,030,862 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of Encana Corp. during the third quarter valued at approximately $133,000. LPL Financial LLC increased its position in shares of Encana Corp. by 13.4% in the third quarter. LPL Financial LLC now owns 35,664 shares of the company’s stock valued at $375,000 after buying an additional 4,215 shares during the last quarter. Finally, Credit Suisse AG increased its position in shares of Encana Corp. by 2.9% in the third quarter. Credit Suisse AG now owns 2,504,820 shares of the company’s stock valued at $26,225,000 after buying an additional 70,797 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

About Encana Corp.

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