Encana Corp (NYSE:ECA) (TSE:ECA) – Equities researchers at Jefferies Financial Group cut their Q4 2019 earnings estimates for shares of Encana in a research note issued to investors on Monday, April 22nd. Jefferies Financial Group analyst Z. Parham now anticipates that the oil and gas company will post earnings of $0.14 per share for the quarter, down from their previous estimate of $0.15. Jefferies Financial Group currently has a “Buy” rating and a $10.00 price objective on the stock.
A number of other brokerages have also issued reports on ECA. Goldman Sachs Group initiated coverage on shares of Encana in a report on Tuesday, March 5th. They issued a “buy” rating and a $9.00 price objective for the company. Cowen reissued a “hold” rating and issued a $10.00 price objective on shares of Encana in a report on Wednesday, February 20th. TD Securities dropped their price objective on shares of Encana from $16.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, February 14th. CIBC raised shares of Encana from a “sector underperform” rating to a “neutral” rating in a report on Thursday, January 31st. Finally, AltaCorp Capital reissued an “outperform” rating on shares of Encana in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.78.
Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings data on Thursday, February 28th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.18. Encana had a net margin of 18.00% and a return on equity of 12.08%. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $1.50 billion.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.019 per share. This represents a $0.08 annualized dividend and a yield of 1.00%. The ex-dividend date was Thursday, March 14th. This is a positive change from Encana’s previous quarterly dividend of $0.02. Encana’s dividend payout ratio (DPR) is 9.30%.
In related news, Director Suzanne P. Nimocks bought 10,000 shares of the stock in a transaction on Friday, March 8th. The stock was bought at an average price of $6.65 per share, with a total value of $66,500.00. Following the completion of the purchase, the director now directly owns 25,600 shares in the company, valued at approximately $170,240. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Gerard Mcallister bought 5,200 shares of the stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $6.97 per share, with a total value of $36,244.00. Following the purchase, the chief operating officer now owns 36,377 shares of the company’s stock, valued at $253,547.69. The disclosure for this purchase can be found here. Company insiders own 0.11% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Boston Advisors LLC acquired a new stake in shares of Encana during the first quarter worth about $1,192,000. Advisor Partners LLC lifted its position in shares of Encana by 156.9% during the first quarter. Advisor Partners LLC now owns 83,973 shares of the oil and gas company’s stock worth $608,000 after purchasing an additional 51,292 shares in the last quarter. BB&T Corp lifted its position in shares of Encana by 271.9% during the first quarter. BB&T Corp now owns 262,541 shares of the oil and gas company’s stock worth $1,900,000 after purchasing an additional 191,946 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI acquired a new stake in shares of Encana during the first quarter worth about $3,028,000. Finally, Investors Research Corp lifted its position in shares of Encana by 39.4% during the first quarter. Investors Research Corp now owns 20,318 shares of the oil and gas company’s stock worth $147,000 after purchasing an additional 5,743 shares in the last quarter. 77.33% of the stock is owned by institutional investors.
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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