Encana Corporation (NYSE:ECA) (TSE:ECA) has received an average recommendation of “Buy” from the twenty-eight analysts that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, fifteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $13.64.
Several equities research analysts have weighed in on the company. Vetr upgraded Encana Corporation from a “sell” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a report on Thursday, February 16th. Zacks Investment Research cut Encana Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, February 16th. J P Morgan Chase & Co reaffirmed a “strong-buy” rating on shares of Encana Corporation in a research report on Thursday, February 16th. GMP Securities cut Encana Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, February 21st. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $14.00 price objective on shares of Encana Corporation in a research report on Tuesday, April 11th.
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Encana Corporation (NYSE ECA) traded down 0.23% during trading on Monday, hitting $8.79. The stock had a trading volume of 10,201,974 shares. The stock’s market capitalization is $8.55 billion. The stock’s 50-day moving average is $10.36 and its 200-day moving average is $11.56. Encana Corporation has a 52-week low of $7.22 and a 52-week high of $13.85.
Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings results on Tuesday, May 2nd. The oil and gas company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.08. Encana Corporation had a positive return on equity of 5.21% and a negative net margin of 3.87%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $789.49 million. During the same quarter in the prior year, the business earned ($0.15) EPS. On average, analysts predict that Encana Corporation will post $0.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Tuesday, June 13th. Encana Corporation’s dividend payout ratio (DPR) is -31.58%.
Several institutional investors have recently modified their holdings of the company. Causeway Capital Management LLC increased its position in shares of Encana Corporation by 95.2% in the first quarter. Causeway Capital Management LLC now owns 48,768,776 shares of the oil and gas company’s stock worth $571,082,000 after buying an additional 23,779,815 shares during the period. BlackRock Inc. increased its position in shares of Encana Corporation by 11,232.3% in the first quarter. BlackRock Inc. now owns 21,896,113 shares of the oil and gas company’s stock worth $256,403,000 after buying an additional 21,702,894 shares during the period. Lone Pine Capital LLC acquired a new position in shares of Encana Corporation during the fourth quarter worth about $245,230,000. FMR LLC increased its position in shares of Encana Corporation by 739.9% in the fourth quarter. FMR LLC now owns 20,771,231 shares of the oil and gas company’s stock worth $243,813,000 after buying an additional 18,298,176 shares during the period. Finally, Norges Bank acquired a new position in shares of Encana Corporation during the fourth quarter worth about $113,848,000. 68.19% of the stock is owned by institutional investors and hedge funds.
About Encana Corporation
Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. 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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