Trade Report: Today, Encana Corp. (ECA) Upgraded to Buy at Vetr Inc.

Today, Encana Corp. (ECA) Upgraded to Buy at Vetr Inc.

Encana Corp. (NYSE:ECA) (TSE:ECA) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage presently has a $12.58 price target on the stock. Vetr‘s target price points to a potential upside of 7.52% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Encana Corp. from a “buy” rating to a “hold” rating in a research note on Monday, November 7th. Nomura reaffirmed 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 initiated coverage on Encana Corp. in a research report on Monday, August 29th. They issued a “hold” rating and a $10.00 target price for the company. Jefferies Group reaffirmed a “buy” rating and issued a $14.00 target price on shares of Encana Corp. in a research report on Wednesday, October 19th. Finally, Royal Bank Of Canada decreased their target price on Encana Corp. from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Monday, September 12th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Encana Corp. currently has a consensus rating of “Hold” and a consensus target price of $12.77.

Shares of Encana Corp. (NYSE:ECA) traded down 3.78% during midday trading on Monday, reaching $11.70. The company’s stock had a trading volume of 11,028,825 shares. The stock’s market capitalization is $11.38 billion. Encana Corp. has a 52 week low of $3.00 and a 52 week high of $12.55. The stock has a 50-day moving average price of $10.85 and a 200 day moving average price of $9.24.

Encana Corp. (NYSE:ECA) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.08. Encana Corp. had a positive return on equity of 1.79% and a negative net margin of 40.77%. During the same quarter last year, the firm posted ($0.03) earnings per share. Equities analysts forecast that Encana Corp. will post $0.02 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be paid a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.51%. Encana Corp.’s payout ratio is presently -3.97%.

Several institutional investors have recently bought and sold shares of ECA. Wetherby Asset Management Inc. raised its position in Encana Corp. by 0.3% in the second quarter. Wetherby Asset Management Inc. now owns 23,693 shares of the company’s stock worth $185,000 after buying an additional 66 shares during the last quarter. Murphy Pohlad Asset Management LLC raised its position in shares of Encana Corp. by 3.2% in the third quarter. Murphy Pohlad Asset Management LLC now owns 12,070 shares of the company’s stock valued at $126,000 after buying an additional 375 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Encana Corp. by 3.5% in the third quarter. HighTower Advisors LLC now owns 19,311 shares of the company’s stock valued at $200,000 after buying an additional 646 shares in the last quarter. Highstreet Asset Management Inc. raised its position in shares of Encana Corp. by 0.9% in the third quarter. Highstreet Asset Management Inc. now owns 79,527 shares of the company’s stock valued at $831,000 after buying an additional 742 shares in the last quarter. Finally, Montgomery Investment Management Inc. raised its position in shares of Encana Corp. by 0.9% in the third quarter. Montgomery Investment Management Inc. now owns 114,679 shares of the company’s stock valued at $1,200,000 after buying an additional 993 shares in the last quarter. Institutional investors and hedge funds own 64.44% of the company’s stock.

About Encana Corp.

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.

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