Encana (ECA) Downgraded by BMO Capital Markets

BMO Capital Markets lowered shares of Encana (NYSE:ECA) (TSE:ECA) from an outperform rating to a market perform rating in a report released on Friday morning, MarketBeat reports. They currently have $12.00 price objective on the oil and gas company’s stock, down from their prior price objective of $18.00.

Other equities research analysts have also issued reports about the stock. Desjardins reiterated a buy rating and issued a $17.00 price objective on shares of Encana in a research report on Friday, July 27th. Zacks Investment Research lowered shares of Encana from a buy rating to a hold rating in a research report on Monday, August 6th. ValuEngine upgraded shares of Encana from a hold rating to a buy rating in a report on Thursday, August 2nd. National Bank Financial upped their target price on shares of Encana from $18.00 to $22.00 and gave the company a $12.96 rating in a report on Wednesday, July 18th. Finally, TD Securities set a $17.00 target price on shares of Encana and gave the company a buy rating in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $15.14.

Shares of Encana stock traded up $0.12 on Friday, hitting $8.68. The company’s stock had a trading volume of 18,308,286 shares, compared to its average volume of 21,141,860. Encana has a 52-week low of $8.44 and a 52-week high of $14.31. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $8.14 billion, a PE ratio of 20.17, a P/E/G ratio of 0.78 and a beta of 2.15.

Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. Encana had a negative net margin of 3.98% and a positive return on equity of 9.46%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.25 billion. On average, research analysts expect that Encana will post 0.7 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be issued a $0.015 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.69%. Encana’s dividend payout ratio (DPR) is 13.95%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc increased its stake in shares of Encana by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 10,513,431 shares of the oil and gas company’s stock valued at $137,695,000 after acquiring an additional 134,249 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of Encana by 13.1% during the 3rd quarter. TD Asset Management Inc. now owns 9,512,694 shares of the oil and gas company’s stock valued at $124,594,000 after acquiring an additional 1,105,366 shares during the last quarter. Intact Investment Management Inc. increased its stake in shares of Encana by 21.7% during the 3rd quarter. Intact Investment Management Inc. now owns 1,389,600 shares of the oil and gas company’s stock valued at $23,526,000 after acquiring an additional 248,000 shares during the last quarter. Atwood & Palmer Inc. increased its stake in shares of Encana by 1.1% during the 3rd quarter. Atwood & Palmer Inc. now owns 992,491 shares of the oil and gas company’s stock valued at $13,012,000 after acquiring an additional 10,951 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Encana by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,702,170 shares of the oil and gas company’s stock valued at $22,315,000 after acquiring an additional 79,678 shares during the last quarter. 67.17% of the stock is owned by institutional investors.

Encana Company Profile

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.

Featured Article: What does RSI mean?

Analyst Recommendations for Encana (NYSE:ECA)

Receive News & Ratings for Encana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encana and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply