Royal Bank of Canada Lowers Encana (TSE:ECA) Price Target to C$9.00

Encana (TSE:ECA) (NYSE:ECA) had its target price trimmed by Royal Bank of Canada from C$11.00 to C$9.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports.

ECA has been the topic of several other research reports. Cormark upped their price target on Parex Resources from C$32.50 to C$35.00 in a research note on Tuesday, July 9th. National Bank Financial cut their price target on Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating on the stock in a research note on Tuesday, June 25th. BMO Capital Markets restated a hold rating and issued a $9.50 price target on shares of Vicon Industries in a research note on Friday, June 14th. Finally, AltaCorp Capital restated an outperform rating on shares of Encana in a research note on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of C$10.29.

ECA stock opened at C$5.93 on Thursday. Encana has a fifty-two week low of C$5.63 and a fifty-two week high of C$18.54. The stock’s 50 day moving average price is C$6.54. The company has a debt-to-equity ratio of 77.96, a current ratio of 0.74 and a quick ratio of 0.67. The stock has a market cap of $7.99 billion and a P/E ratio of 9.11.

Encana (TSE:ECA) (NYSE:ECA) last posted its earnings results on Tuesday, April 30th. The company reported C$0.18 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.13 by C$0.05. The firm had revenue of C$1.62 billion for the quarter, compared to analysts’ expectations of C$1.59 billion. Research analysts forecast that Encana will post 1.0299999 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.025 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.10 annualized dividend and a dividend yield of 1.69%. This is an increase from Encana’s previous quarterly dividend of $0.02. Encana’s dividend payout ratio is presently 15.36%.

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. It holds interests in various assets, including the Montney in northeast 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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Analyst Recommendations for Encana (TSE:ECA)

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