Encana Corporation (NYSE:ECA) (TSE:ECA) – Stock analysts at Jefferies Group decreased their FY2017 earnings per share estimates for Encana Corporation in a report released on Thursday. Jefferies Group analyst Z. Parham now forecasts that the oil and gas company will post earnings per share of $0.43 for the year, down from their previous forecast of $0.49. Jefferies Group has a “Buy” rating and a $12.00 price target on the stock. Jefferies Group also issued estimates for Encana Corporation’s Q4 2017 earnings at $0.12 EPS and Q1 2018 earnings at $0.14 EPS.
Other equities analysts have also issued reports about the company. Canaccord Genuity set a $12.00 target price on Encana Corporation and gave the stock a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded Encana Corporation from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Thursday, July 27th. KLR Group restated a “buy” rating and issued a $18.00 target price (up from $16.00) on shares of Encana Corporation in a research note on Monday, July 24th. TD Securities upped their target price on Encana Corporation from $11.50 to $12.50 and gave the stock a “buy” rating in a research note on Monday, July 24th. Finally, Citigroup Inc. decreased their target price on Encana Corporation from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $14.39.
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Encana Corporation (NYSE:ECA) opened at $12.65 on Friday. The firm has a market capitalization of $12,309.89, a PE ratio of 31.62, a price-to-earnings-growth ratio of 3.48 and a beta of 2.17. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.62. Encana Corporation has a one year low of $8.01 and a one year high of $13.85.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Encana Corporation by 7.4% in the 2nd 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 purchasing an additional 7,358 shares during the period. Korea Investment CORP lifted its stake in shares of Encana Corporation by 39.9% in the 3rd quarter. Korea Investment CORP now owns 560,121 shares of the oil and gas company’s stock valued at $6,579,000 after purchasing an additional 159,720 shares during the period. Northern Trust Corp lifted its stake in shares of Encana Corporation by 7.8% in the 2nd quarter. Northern Trust Corp now owns 2,231,713 shares of the oil and gas company’s stock valued at $19,639,000 after purchasing an additional 162,225 shares during the period. Capital Fund Management S.A. lifted its stake in shares of Encana Corporation by 103.1% in the 2nd quarter. Capital Fund Management S.A. now owns 563,668 shares of the oil and gas company’s stock valued at $4,960,000 after purchasing an additional 286,089 shares during the period. Finally, Shell Asset Management Co. increased its position in Encana Corporation by 113.6% during the 3rd quarter. Shell Asset Management Co. now owns 202,798 shares of the oil and gas company’s stock valued at $4,800,000 after buying an additional 107,851 shares in the last quarter. Institutional investors own 67.00% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Thursday, December 14th. Encana Corporation’s payout ratio is presently 7.60%.
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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