Encana Corporation (ECA) Given Average Recommendation of “Buy” by Brokerages

Encana Corporation (NYSE:ECA) (TSE:ECA) has been given a consensus rating of “Buy” by the twenty-six research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and four have issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $13.68.

Several research firms have recently weighed in on ECA. Citigroup Inc. reduced their price objective on Encana Corporation from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, July 21st. GMP Securities restated a “buy” rating and issued a $16.00 target price on shares of Encana Corporation in a report on Friday, September 29th. Raymond James Financial, Inc. increased their target price on Encana Corporation from $14.00 to $15.00 and gave the company a “strong-buy” rating in a report on Monday, July 24th. Macquarie lowered Encana Corporation from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 21st. Finally, TD Securities increased their target price on Encana Corporation from $11.50 to $12.50 and gave the company a “buy” rating in a report on Monday, July 24th.

Shares of Encana Corporation (NYSE:ECA) traded down 1.87% during trading on Thursday, reaching $11.57. The company had a trading volume of 3,798,431 shares. The stock’s 50-day moving average price is $10.80 and its 200-day moving average price is $10.20. The stock has a market capitalization of $11.26 billion, a PE ratio of 13.79 and a beta of 2.12. Encana Corporation has a 12 month low of $8.01 and a 12 month high of $13.85.

Encana Corporation (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.15. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $773.19 million. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. During the same period last year, the company posted $0.10 EPS. Equities analysts forecast that Encana Corporation will post $0.50 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.015 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.06 annualized dividend and a yield of 0.51%. Encana Corporation’s dividend payout ratio (DPR) is currently 6.98%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. raised its holdings in Encana Corporation by 0.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,898 shares of the oil and gas company’s stock valued at $233,000 after buying an additional 124 shares in the last quarter. Sentinel Trust Co. LBA raised its holdings in Encana Corporation by 0.3% during the second quarter. Sentinel Trust Co. LBA now owns 186,720 shares of the oil and gas company’s stock valued at $1,644,000 after buying an additional 490 shares in the last quarter. Wetherby Asset Management Inc. raised its holdings in Encana Corporation by 2.1% during the second quarter. Wetherby Asset Management Inc. now owns 24,141 shares of the oil and gas company’s stock valued at $212,000 after buying an additional 497 shares in the last quarter. Equity Investment Corp Acquisition Inc raised its holdings in Encana Corporation by 5.4% during the second quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 666 shares in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in Encana Corporation by 2.1% during the second quarter. D.A. Davidson & CO. now owns 45,097 shares of the oil and gas company’s stock valued at $396,000 after buying an additional 939 shares in the last quarter. Institutional investors own 66.76% of the company’s stock.

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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.

Analyst Recommendations for Encana Corporation (NYSE:ECA)

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