Sanford C. Bernstein upgraded shares of Encana Corporation (NYSE:ECA) (TSE:ECA) from a market perform rating to an outperform rating in a report released on Friday, September 15th, MarketBeat.com reports. Sanford C. Bernstein currently has $14.00 price target on the oil and gas company’s stock, up from their prior price target of $10.00.
A number of other brokerages have also recently commented on ECA. Royal Bank Of Canada restated a buy rating and issued a $14.00 price target on shares of Encana Corporation in a research report on Monday, May 29th. Raymond James Financial, Inc. assumed coverage on Encana Corporation in a research report on Wednesday, May 31st. They issued an outperform rating and a $15.00 price target on the stock. Zacks Investment Research upgraded Encana Corporation from a hold rating to a buy rating and set a $11.00 price target on the stock in a research report on Thursday, July 27th. TD Securities raised their price target on Encana Corporation from $11.50 to $12.50 and gave the stock a buy rating in a research report on Monday, July 24th. Finally, AltaCorp Capital upgraded Encana Corporation from a sector perform rating to an outperform rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and four have issued a strong buy rating to the company’s stock. Encana Corporation presently has an average rating of Buy and a consensus target price of $13.36.
Encana Corporation (ECA) opened at 11.25 on Friday. The company has a market capitalization of $10.95 billion, a P/E ratio of 13.41 and a beta of 2.06. The stock has a 50 day moving average of $9.56 and a 200-day moving average of $10.10. Encana Corporation has a 52-week low of $8.01 and a 52-week high of $13.85.
Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.15. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $773.19 million. During the same quarter last year, the business earned $0.10 earnings per share. On average, equities analysts forecast that Encana Corporation will post $0.51 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Thursday, September 14th. Encana Corporation’s dividend payout ratio (DPR) is presently 6.98%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new position in Encana Corporation in the second quarter valued at approximately $280,000. Raymond James Financial Services Advisors Inc. lifted its stake in Encana Corporation by 7.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 107,286 shares of the oil and gas company’s stock valued at $944,000 after buying an additional 7,358 shares during the period. 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 buying an additional 989,023 shares during the period. First Commonwealth Financial Corp PA acquired a new position in Encana Corporation in the second quarter valued at approximately $149,000. Finally, Gotham Asset Management LLC acquired a new position in Encana Corporation in the second quarter valued at approximately $109,000. 66.75% of the stock is currently owned by hedge funds and other institutional investors.
Encana Corporation Company Profile
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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