Encana (TSE:ECA) (NYSE:ECA) – Equities researchers at Jefferies Group lifted their Q1 2019 earnings per share (EPS) estimates for Encana in a note issued to investors on Wednesday, May 2nd, Zacks Investment Research reports. Jefferies Group analyst Z. Parham now forecasts that the company will earn $0.26 per share for the quarter, up from their prior estimate of $0.23. Jefferies Group also issued estimates for Encana’s Q2 2019 earnings at $0.23 EPS, Q3 2019 earnings at $0.26 EPS, Q4 2019 earnings at $0.29 EPS and FY2019 earnings at $1.04 EPS.
Encana (TSE:ECA) (NYSE:ECA) last posted its quarterly earnings results on Thursday, February 15th. The company reported C$0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.14 by C$0.01. The business had revenue of C$1.54 billion for the quarter, compared to the consensus estimate of C$1.33 billion. Encana had a return on equity of 17.15% and a net margin of 34.15%.
Several other brokerages have also recently issued reports on ECA. BMO Capital Markets set a C$15.00 price objective on Encana and gave the company an “outperform” rating in a report on Thursday, May 3rd. AltaCorp Capital raised Encana from a “sector perform” rating to an “outperform” rating in a report on Wednesday, February 7th. Finally, Sanford C. Bernstein boosted their price objective on Encana from C$19.89 to C$19.98 in a report on Friday, February 16th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Encana currently has an average rating of “Buy” and a consensus target price of C$17.16.
Shares of Encana traded down C$0.24, hitting C$17.31, on Friday, Marketbeat Ratings reports. The company had a trading volume of 3,004,290 shares, compared to its average volume of 4,186,965. Encana has a twelve month low of C$10.54 and a twelve month high of C$17.94.
In other Encana news, Director Douglas James Suttles purchased 2,000 shares of Encana stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average price of C$13.51 per share, with a total value of C$27,020.00. Insiders purchased a total of 4,000 shares of company stock valued at $48,420 in the last ninety days.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a $0.019 dividend. This is a boost from Encana’s previous quarterly dividend of $0.02. The ex-dividend date is Thursday, June 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.44%.
Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company holds interests in various assets, including the Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.
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