Vetr upgraded shares of Encana Corp. (NYSE:ECA) (TSE:ECA) from a hold rating to a buy rating in a research note released on Monday morning. The brokerage currently has $12.58 price objective on the stock.
A number of other analysts also recently issued reports on the stock. KLR Group downgraded shares of Encana Corp. from a buy rating to an accumulate rating and set a $14.00 price objective for the company. in a report on Monday. Jefferies Group reaffirmed a buy rating and set a $13.00 price objective on shares of Encana Corp. in a report on Tuesday, September 20th. Nomura lifted their price objective on shares of Encana Corp. from $12.00 to $15.00 and gave the stock a buy rating in a report on Monday, September 12th. Deutsche Bank AG reaffirmed a buy rating and set a $13.00 price objective (down from $15.00) on shares of Encana Corp. in a report on Thursday, September 29th. Finally, Citigroup Inc. raised shares of Encana Corp. from a neutral rating to a buy rating and lifted their price objective for the stock from $10.00 to $13.00 in a report on Friday, September 30th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Encana Corp. currently has a consensus rating of Hold and an average target price of $12.77.
Shares of Encana Corp. (NYSE:ECA) opened at 11.70 on Monday. The company’s market cap is $11.38 billion. Encana Corp. has a 12 month low of $3.00 and a 12 month high of $12.55. The firm’s 50-day moving average is $10.85 and its 200-day moving average is $9.24.
Encana Corp. (NYSE:ECA) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 business posted ($0.03) earnings per share. On average, equities research analysts predict 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. Investors of record on Thursday, December 15th will be paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.51%. The ex-dividend date is Tuesday, December 13th. Encana Corp.’s payout ratio is currently -3.97%.
A number of large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in Encana Corp. during the second quarter valued at approximately $54,865,000. Contrarius Investment Management Ltd acquired a new stake in Encana Corp. during the third quarter valued at approximately $60,448,000. Key Group Holdings Cayman LTD. acquired 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 last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Encana Corp. during the second quarter valued at approximately $23,962,000. 64.44% of the stock is currently owned by institutional investors and hedge funds.
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.