Brokerages Set Encana Corporation (ECA) PT at $13.05
Shares of Encana Corporation (NYSE:ECA) (TSE:ECA) have received a consensus recommendation of “Buy” from the thirty research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, sixteen have assigned a buy recommendation and four have given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $13.05.
ECA has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $12.00 target price on shares of Encana Corporation in a research note on Tuesday, June 27th. Canaccord Genuity set a $14.00 target price on shares of Encana Corporation and gave the company a “buy” rating in a research note on Tuesday, June 20th. GMP Securities reaffirmed a “buy” rating on shares of Encana Corporation in a research note on Wednesday, June 14th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $14.00 target price on shares of Encana Corporation in a research note on Monday, May 29th. Finally, Jefferies Group LLC set a $14.00 target price on shares of Encana Corporation and gave the company a “buy” rating in a research note on Wednesday, May 17th.
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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Causeway Capital Management LLC boosted its holdings in Encana Corporation by 95.2% during 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 purchasing an additional 23,779,815 shares during the last quarter. BlackRock Inc. lifted its stake in Encana Corporation by 15.4% in the second quarter. BlackRock Inc. now owns 25,264,984 shares of the oil and gas company’s stock valued at $222,330,000 after acquiring an additional 3,368,871 shares during the last quarter. Vanguard Group Inc. lifted its stake in Encana Corporation by 4.3% in the second quarter. Vanguard Group Inc. now owns 23,620,300 shares of the oil and gas company’s stock valued at $207,858,000 after acquiring an additional 982,600 shares during the last quarter. FMR LLC lifted its stake in Encana Corporation by 6.3% in the first quarter. FMR LLC now owns 22,080,449 shares of the oil and gas company’s stock valued at $258,686,000 after acquiring an additional 1,309,218 shares during the last quarter. Finally, Steadfast Capital Management LP lifted its stake in Encana Corporation by 5.0% in the second quarter. Steadfast Capital Management LP now owns 20,963,596 shares of the oil and gas company’s stock valued at $184,480,000 after acquiring an additional 989,023 shares during the last quarter. Institutional investors and hedge funds own 66.76% of the company’s stock.
Encana Corporation (NYSE:ECA) traded up 0.96% during trading on Wednesday, reaching $9.42. 6,044,719 shares of the company were exchanged. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 11.23 and a beta of 2.06. Encana Corporation has a 52-week low of $8.01 and a 52-week high of $13.85. The firm has a 50-day moving average of $9.56 and a 200-day moving average of $10.27.
Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its earnings results on Friday, July 21st. The oil and gas company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.15. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $773.19 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. On average, equities analysts forecast that Encana Corporation will post $0.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, September 14th. Encana Corporation’s payout ratio is 6.98%.
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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