Encana Corp (NYSE:ECA) (TSE:ECA) – Analysts at Cormark lowered their Q2 2019 EPS estimates for shares of Encana in a report released on Tuesday, July 9th. Cormark analyst A. Arif now expects that the oil and gas company will earn $0.23 per share for the quarter, down from their previous estimate of $0.26. Cormark also issued estimates for Encana’s FY2020 earnings at $0.89 EPS.
A number of other equities analysts also recently commented on ECA. Morgan Stanley raised shares of to an “overweight” rating and set a GBX 400 ($5.23) price objective for the company in a report on Friday. Sanford C. Bernstein downgraded shares of Encana from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. AltaCorp Capital reaffirmed an “outperform” rating on shares of Encana in a report on Monday, April 8th. Goldman Sachs Group downgraded shares of Encana to a “buy” rating in a report on Friday, April 12th. Finally, Barclays lifted their price objective on shares of Stanley Black & Decker from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $11.11.
Encana stock opened at $5.01 on Thursday. The firm has a market capitalization of $7.19 billion, a P/E ratio of 5.83, a PEG ratio of 1.06 and a beta of 2.02. The stock has a fifty day simple moving average of $5.11. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. Encana has a 12 month low of $4.56 and a 12 month high of $14.28.
Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Encana had a net margin of 11.48% and a return on equity of 10.79%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the company earned $0.16 earnings per share.
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.0188 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, June 13th. Encana’s dividend payout ratio (DPR) is 9.30%.
In other news, COO Michael Gerard Mcallister purchased 5,650 shares of Encana stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $6.52 per share, with a total value of $36,838.00. Following the completion of the acquisition, the chief operating officer now owns 42,027 shares in the company, valued at approximately $274,016.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce Gordon Waterman acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average price of $5.06 per share, for a total transaction of $253,000.00. Following the completion of the purchase, the director now owns 250,000 shares of the company’s stock, valued at $1,265,000. The disclosure for this purchase can be found here. In the last three months, insiders have bought 111,450 shares of company stock valued at $585,738. Corporate insiders own 0.11% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Foresters Investment Management Company Inc. raised its stake in shares of Encana by 23.7% during the fourth quarter. Foresters Investment Management Company Inc. now owns 2,564,800 shares of the oil and gas company’s stock valued at $14,825,000 after purchasing an additional 491,400 shares in the last quarter. Korea Investment CORP raised its position in Encana by 118.6% in the fourth quarter. Korea Investment CORP now owns 67,686 shares of the oil and gas company’s stock worth $391,000 after acquiring an additional 431,847 shares in the last quarter. Advisor Partners LLC raised its position in Encana by 156.9% in the first quarter. Advisor Partners LLC now owns 83,973 shares of the oil and gas company’s stock worth $608,000 after acquiring an additional 51,292 shares in the last quarter. Elliott Management Corp bought a new stake in Encana in the fourth quarter worth about $17,629,000. Finally, BB&T Corp raised its position in Encana by 271.9% in the first quarter. BB&T Corp now owns 262,541 shares of the oil and gas company’s stock worth $1,900,000 after acquiring an additional 191,946 shares in the last quarter. Institutional investors and hedge funds own 70.24% 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. 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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