Encana Corp (NYSE:ECA) Expected to Post Earnings of $0.16 Per Share

Equities analysts predict that Encana Corp (NYSE:ECA) (TSE:ECA) will post earnings of $0.16 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Encana’s earnings, with the lowest EPS estimate coming in at $0.11 and the highest estimate coming in at $0.20. Encana reported earnings of $0.32 per share during the same quarter last year, which indicates a negative year over year growth rate of 50%. The firm is scheduled to issue its next earnings report on Thursday, February 27th.

According to Zacks, analysts expect that Encana will report full year earnings of $0.57 per share for the current year, with EPS estimates ranging from $0.34 to $0.66. For the next year, analysts anticipate that the company will post earnings of $0.54 per share, with EPS estimates ranging from $0.42 to $0.64. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Encana.

Encana (NYSE:ECA) (TSE:ECA) last released its earnings results on Thursday, October 31st. The oil and gas company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. Encana had a return on equity of 10.12% and a net margin of 16.84%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.70 billion.

A number of research analysts recently issued reports on ECA shares. Raymond James set a $5.00 price target on shares of Encana and gave the stock a “market perform” rating in a research note on Friday, November 1st. Barclays lowered shares of Encana from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $11.00 to $5.00 in a research report on Friday, December 6th. Macquarie started coverage on shares of Encana in a research report on Monday, September 23rd. They issued a “neutral” rating and a $5.50 price objective on the stock. Scotiabank lowered shares of Encana from an “outperform” rating to a “sector perform” rating and set a $5.50 price objective on the stock. in a research report on Monday, November 25th. Finally, BMO Capital Markets decreased their price objective on shares of Encana from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.40.

Encana stock traded up $0.03 during mid-day trading on Friday, reaching $4.23. 25,877,003 shares of the company traded hands, compared to its average volume of 15,734,714. The firm’s fifty day moving average is $4.21 and its two-hundred day moving average is $4.54. Encana has a fifty-two week low of $3.77 and a fifty-two week high of $7.70. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 4.92, a price-to-earnings-growth ratio of 0.71 and a beta of 2.01. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.82.

The company also recently announced a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.019 dividend. The ex-dividend date is Thursday, December 12th. Encana’s dividend payout ratio (DPR) is 9.30%.

In other news, SVP Sheila Marie Dipalma sold 79,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $53.48, for a total transaction of $4,251,660.00. Also, CFO Corey Douglas Code acquired 10,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were bought at an average price of $3.95 per share, for a total transaction of $39,500.00. Following the completion of the acquisition, the chief financial officer now owns 62,463 shares in the company, valued at $246,728.85. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 47,300 shares of company stock worth $193,080. 0.11% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Man Group plc lifted its holdings in shares of Encana by 265.9% during the 3rd quarter. Man Group plc now owns 327,502 shares of the oil and gas company’s stock worth $1,507,000 after acquiring an additional 238,002 shares during the period. National Pension Service lifted its holdings in shares of Encana by 4.9% during the 3rd quarter. National Pension Service now owns 1,785,961 shares of the oil and gas company’s stock worth $10,841,000 after acquiring an additional 83,414 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Encana during the 3rd quarter worth about $189,000. Parametric Portfolio Associates LLC lifted its holdings in shares of Encana by 26.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,568,033 shares of the oil and gas company’s stock worth $11,813,000 after acquiring an additional 539,073 shares during the period. Finally, Phoenix Holdings Ltd. purchased a new position in shares of Encana during the 3rd quarter worth about $33,555,000. Institutional investors and hedge funds own 74.13% of the company’s stock.

About Encana

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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