Encana Corp. (NYSE:ECA) (TSE:ECA) was downgraded by equities research analysts at KLR Group from a “buy” rating to an “accumulate” rating in a research report issued to clients and investors on Monday.
Several other research firms also recently commented on ECA. Vetr downgraded Encana Corp. from a “buy” rating to a “hold” rating and set a $12.02 price objective on the stock. in a report on Monday, November 21st. Jefferies Group restated a “buy” rating and set a $14.00 price objective on shares of Encana Corp. in a report on Wednesday, October 19th. Barclays PLC raised Encana Corp. from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $10.00 to $14.00 in a research report on Tuesday, October 11th. GMP Securities raised Encana Corp. from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Thursday, October 6th. Finally, Macquarie raised Encana Corp. from an “underperform” rating to a “neutral” rating in a research report on Thursday, October 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $12.74.
Encana Corp. (NYSE:ECA) traded down 3.78% on Monday, hitting $11.70. The stock had a trading volume of 10,979,394 shares. Encana Corp. has a 52-week low of $3.00 and a 52-week high of $12.55. The firm’s market cap is $11.38 billion. The company has a 50-day moving average price of $10.82 and a 200 day moving average price of $9.17.
Encana Corp. (NYSE:ECA) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.04 EPS 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 in the prior year, the company posted ($0.03) EPS. Equities analysts forecast that Encana Corp. will post $0.02 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be paid a $0.015 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.49%. Encana Corp.’s dividend payout ratio is presently -3.97%.
Several institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new stake in Encana Corp. during the second quarter valued at approximately $54,865,000. Contrarius Investment Management Ltd purchased a new stake in Encana Corp. during the third quarter valued at approximately $60,448,000. Key Group Holdings Cayman LTD. purchased a new stake in Encana Corp. during the second quarter valued at approximately $39,161,000. Price T Rowe Associates Inc. MD raised its stake in 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 period. Finally, Mackenzie Financial Corp purchased a new stake in Encana Corp. during the second quarter valued at approximately $23,962,000. Hedge funds and other institutional investors own 64.44% of the company’s stock.
Encana Corp. Company Profile