Encana (NYSE:ECA) (TSE:ECA) posted its earnings results on Thursday. The oil and gas company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.04, Morningstar.com reports. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.25 billion. Encana had a net margin of 1.49% and a return on equity of 7.30%.
Shares of ECA stock traded down $0.41 on Friday, reaching $8.55. 63,446,316 shares of the stock were exchanged, compared to its average volume of 9,907,736. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.57. The company has a market cap of $9.56 billion, a P/E ratio of 19.88, a PEG ratio of 0.91 and a beta of 2.02. Encana has a twelve month low of $8.44 and a twelve month high of $14.31.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be paid a dividend of $0.015 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.70%. Encana’s payout ratio is currently 13.95%.
Hedge funds have recently modified their holdings of the stock. Clinton Group Inc. acquired a new position in shares of Encana during the second quarter worth $131,000. Advisor Partners LLC acquired a new position in shares of Encana during the second quarter worth $134,000. Suntrust Banks Inc. acquired a new position in shares of Encana during the first quarter worth $165,000. Fox Run Management L.L.C. acquired a new position in shares of Encana during the third quarter worth $196,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Encana during the second quarter worth $209,000. Hedge funds and other institutional investors own 67.32% of the company’s stock.
Several equities analysts have commented on ECA shares. BMO Capital Markets restated a “buy” rating and issued a $18.00 price target on shares of Encana in a research note on Thursday, October 11th. Zacks Investment Research downgraded shares of Encana from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. National Bank Financial dropped their price target on shares of Encana from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, August 2nd. Canaccord Genuity restated a “buy” rating and issued a $19.00 price target on shares of Encana in a research note on Thursday, July 12th. Finally, CIBC started coverage on shares of Encana in a research note on Friday, October 5th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $15.36.
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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