Canaccord Genuity Reaffirms “Average” Rating for Encana (ECA)

Canaccord Genuity reiterated their average rating on shares of Encana (NYSE:ECA) (TSE:ECA) in a report issued on Wednesday morning.

A number of other analysts have also recently weighed in on ECA. Zacks Investment Research cut Encana from a buy rating to a hold rating in a research report on Friday, October 19th. AltaCorp Capital cut Encana from an outperform rating to a sector perform rating in a research report on Friday, November 2nd. ValuEngine cut Encana from a sell rating to a strong sell rating in a research report on Thursday, November 1st. BMO Capital Markets cut Encana from an outperform rating to a market perform rating and lowered their price target for the company from $18.00 to $12.00 in a research report on Friday, November 2nd. Finally, National Bank Financial lowered their price target on Encana from $22.00 to $18.50 and set an outperform rating on the stock in a research report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. Encana currently has a consensus rating of Buy and a consensus target price of $15.14.

Shares of NYSE:ECA opened at $8.85 on Wednesday. Encana has a fifty-two week low of $8.43 and a fifty-two week high of $14.31. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 0.88 and a beta of 2.15. The company has a current ratio of 0.70, a quick ratio of 0.73 and a debt-to-equity ratio of 0.57.

Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Encana had a positive return on equity of 9.53% and a negative net margin of 3.98%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.25 billion. As a group, research analysts predict that Encana will post 0.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, December 13th. Encana’s payout ratio is presently 13.95%.

In other Encana news, CEO Douglas James Suttles bought 50,000 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were bought at an average price of $8.83 per share, for a total transaction of $441,500.00. Following the completion of the acquisition, the chief executive officer now owns 134,212 shares of the company’s stock, valued at $1,185,091.96. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Howard John Mayson bought 10,000 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were acquired at an average price of $8.74 per share, for a total transaction of $87,400.00. Following the acquisition, the director now directly owns 35,104 shares of the company’s stock, valued at approximately $306,808.96. The disclosure for this purchase can be found here. Insiders have bought 192,155 shares of company stock worth $1,693,714 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Encana by 274.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,002 shares of the oil and gas company’s stock valued at $213,000 after acquiring an additional 6,600 shares during the period. Clinton Group Inc. acquired a new position in shares of Encana during the second quarter valued at $131,000. Advisor Partners LLC acquired a new position in shares of Encana during the second quarter valued at $134,000. Fox Run Management L.L.C. acquired a new position in shares of Encana during the third quarter valued at $196,000. Finally, Suntrust Banks Inc. acquired a new position in shares of Encana during the first quarter valued at $165,000. Institutional investors own 67.17% of the company’s stock.

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.

Further Reading: Understanding Market Liquidity

Analyst Recommendations for Encana (NYSE:ECA)

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