Encana Corp (NYSE:ECA) (TSE:ECA) – Jefferies Group reduced their Q1 2018 earnings per share (EPS) estimates for Encana in a note issued to investors on Monday. Jefferies Group analyst Z. Parham now forecasts that the oil and gas company will post earnings per share of $0.14 for the quarter, down from their prior forecast of $0.15. Jefferies Group has a “Buy” rating and a $16.00 price objective on the stock. Jefferies Group also issued estimates for Encana’s Q2 2018 earnings at $0.13 EPS, Q3 2018 earnings at $0.17 EPS, Q4 2018 earnings at $0.20 EPS, FY2018 earnings at $0.64 EPS, Q1 2019 earnings at $0.19 EPS, Q2 2019 earnings at $0.17 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.21 EPS and FY2019 earnings at $0.75 EPS.
Several other analysts also recently weighed in on the stock. Morgan Stanley upgraded shares of Encana from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $15.00 to $18.00 in a report on Wednesday, January 24th. Royal Bank of Canada lifted their target price on shares of Encana from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, January 16th. Zacks Investment Research downgraded shares of Encana from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. National Bank Financial lifted their target price on shares of Encana from $14.50 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, January 9th. Finally, Desjardins upgraded shares of Encana from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Friday, January 12th. Three analysts have rated the stock with a sell rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Encana currently has an average rating of “Buy” and a consensus price target of $15.33.
Shares of Encana (ECA) opened at $10.96 on Tuesday. Encana has a 1-year low of $8.01 and a 1-year high of $14.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market cap of $10,860.06, a P/E ratio of 13.05, a P/E/G ratio of 1.51 and a beta of 2.13.
Encana (NYSE:ECA) (TSE:ECA) last posted its earnings results on Thursday, February 15th. The oil and gas company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Encana had a net margin of 18.58% and a return on equity of 6.25%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.06 billion.
A number of large investors have recently made changes to their positions in ECA. Raymond James Financial Services Advisors Inc. raised its stake in Encana by 5.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 112,742 shares of the oil and gas company’s stock worth $1,328,000 after acquiring an additional 5,456 shares in the last quarter. Sei Investments Co. raised its stake in Encana by 42.5% during the 3rd quarter. Sei Investments Co. now owns 627,473 shares of the oil and gas company’s stock worth $7,391,000 after acquiring an additional 187,264 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Encana by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,096,767 shares of the oil and gas company’s stock worth $12,919,000 after acquiring an additional 21,051 shares in the last quarter. Commerce Bank acquired a new stake in Encana during the 3rd quarter worth $118,000. Finally, Ameriprise Financial Inc. raised its stake in Encana by 111.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 124,266 shares of the oil and gas company’s stock worth $1,464,000 after acquiring an additional 65,508 shares in the last quarter. Hedge funds and other institutional investors own 68.47% of the company’s stock.
In other news, Director Howard John Mayson acquired 2,500 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was acquired at an average cost of $10.53 per share, with a total value of $26,325.00. Following the transaction, the director now owns 25,104 shares in the company, valued at $264,345.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Margaret Anne Mckenzie acquired 10,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were purchased at an average cost of $11.16 per share, with a total value of $111,600.00. Following the completion of the transaction, the director now owns 22,000 shares in the company, valued at approximately $245,520. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 22,500 shares of company stock valued at $245,325. Corporate insiders own 0.08% of the company’s stock.
Encana announced that its Board of Directors has approved a stock buyback program on Thursday, February 15th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.06 annualized dividend and a dividend yield of 0.55%. Encana’s dividend payout ratio (DPR) is currently 7.14%.
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Encana Company Profile
Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. The Company’s operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America.
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