Encana Corp (NYSE:ECA) (TSE:ECA) – Research analysts at Jefferies Financial Group cut their Q4 2018 EPS estimates for Encana in a note issued to investors on Friday, November 2nd. Jefferies Financial Group analyst Z. Parham now forecasts that the oil and gas company will post earnings of $0.21 per share for the quarter, down from their prior forecast of $0.24. Jefferies Financial Group currently has a “Buy” rating and a $14.00 target price on the stock. Jefferies Financial Group also issued estimates for Encana’s Q1 2019 earnings at $0.32 EPS.
Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $0.17 EPS for the quarter, beating the Zacks’ 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 company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.25 billion.
A number of other research firms have also commented on ECA. Zacks Investment Research raised shares of Encana from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Monday, October 22nd. Morgan Stanley set a $19.00 price target on shares of Encana and gave the company a “buy” rating in a research report on Friday, October 12th. TD Securities set a $17.00 price target on shares of Encana and gave the company a “buy” rating in a research report on Wednesday, August 1st. Desjardins reissued a “buy” rating and issued a $17.00 price target on shares of Encana in a research report on Friday, July 27th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $18.00 price target on shares of Encana in a research report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $15.14.
NYSE:ECA opened at $8.88 on Monday. Encana has a 12 month low of $8.44 and a 12 month high of $14.31. The company has a market capitalization of $8.14 billion, a PE ratio of 20.65, a PEG ratio of 0.78 and a beta of 2.15. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.73 and a current ratio of 0.73.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its stake in Encana by 70.2% during the second quarter. FMR LLC now owns 41,979,114 shares of the oil and gas company’s stock worth $548,226,000 after buying an additional 17,318,112 shares in the last quarter. Morgan Stanley boosted its stake in Encana by 34.2% during the second quarter. Morgan Stanley now owns 19,464,355 shares of the oil and gas company’s stock worth $254,011,000 after buying an additional 4,962,470 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Encana by 37.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,307,169 shares of the oil and gas company’s stock worth $186,745,000 after buying an additional 3,900,950 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Encana by 1.3% during the third quarter. CIBC Asset Management Inc now owns 10,513,431 shares of the oil and gas company’s stock worth $137,695,000 after buying an additional 134,249 shares in the last quarter. Finally, TD Asset Management Inc. boosted its stake in Encana by 13.1% during the third quarter. TD Asset Management Inc. now owns 9,512,694 shares of the oil and gas company’s stock worth $124,594,000 after buying an additional 1,105,366 shares in the last quarter. Hedge funds and other institutional investors own 67.17% of the company’s stock.
In related news, Director Howard John Mayson bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The shares were acquired at an average price of $8.74 per share, with a total value of $87,400.00. Following the completion of the transaction, the director now owns 35,104 shares of the company’s stock, valued at approximately $306,808.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Gerard Mcallister bought 8,655 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The shares were bought at an average cost of $8.77 per share, for a total transaction of $75,904.35. Following the transaction, the chief operating officer now directly owns 25,677 shares of the company’s stock, valued at approximately $225,187.29. The disclosure for this purchase can be found here. Insiders have purchased 72,405 shares of company stock worth $640,902 in the last ninety days. 0.09% of the stock is currently owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Thursday, December 13th. Encana’s dividend payout ratio (DPR) is currently 13.95%.
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.
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