Several brokerages have updated their recommendations and price targets on shares of Encana (NYSE: ECA) in the last few weeks:
- 5/1/2019 – Encana had its “outperform” rating reaffirmed by analysts at Raymond James. They now have a $11.00 price target on the stock.
- 5/1/2019 – Encana had its price target lowered by analysts at TD Securities from $11.00 to $10.50. They now have a “buy” rating on the stock.
- 4/30/2019 – Encana was downgraded by analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating.
- 4/29/2019 – Encana is now covered by analysts at JPMorgan Chase & Co.. They set a “neutral” rating and a $12.00 price target on the stock.
- 4/12/2019 – Encana was downgraded by analysts at Goldman Sachs Group Inc to a “buy” rating.
- 4/8/2019 – Encana had its “outperform” rating reaffirmed by analysts at AltaCorp Capital.
- 4/3/2019 – Encana is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $11.00 price target on the stock.
NYSE:ECA opened at $6.65 on Monday. Encana Corp has a 12-month low of $5.00 and a 12-month high of $14.28. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market capitalization of $9.58 billion, a PE ratio of 7.73, a P/E/G ratio of 0.89 and a beta of 2.05.
Encana (NYSE:ECA) (TSE:ECA) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.05. Encana had a return on equity of 10.79% and a net margin of 11.48%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $0.16 EPS. Analysts forecast that Encana Corp will post 0.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.0188 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.08 annualized dividend and a dividend yield of 1.13%. Encana’s dividend payout ratio is currently 9.30%.
In other news, Director Steven W. Nance sold 16,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $7.40, for a total value of $118,400.00. Following the transaction, the director now directly owns 82,146 shares in the company, valued at approximately $607,880.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Gerard Mcallister purchased 5,650 shares of Encana stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $6.52 per share, for a total transaction of $36,838.00. Following the completion of the transaction, the chief operating officer now directly owns 42,027 shares in the company, valued at $274,016.04. The disclosure for this purchase can be found here. Insiders bought a total of 20,850 shares of company stock worth $139,582 over the last 90 days. 0.11% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. acquired a new stake in Encana during the 1st quarter worth $25,000. Shine Investment Advisory Services Inc. acquired a new stake in shares of Encana in the 1st quarter valued at about $26,000. Lee Financial Co acquired a new stake in shares of Encana in the 1st quarter valued at about $26,000. American Research & Management Co. acquired a new stake in shares of Encana in the 1st quarter valued at about $27,000. Finally, Beutel Goodman & Co Ltd. acquired a new stake in shares of Encana in the 1st quarter valued at about $31,000. 54.21% of the stock is currently owned by institutional investors and hedge funds.
Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It holds interests in various assets, including the Montney in northeast 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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