Encana Corp (NYSE:ECA) (TSE:ECA) – Analysts at Cormark boosted their Q2 2019 earnings per share estimates for shares of Encana in a research note issued to investors on Wednesday, May 1st, according to Zacks Investment Research. Cormark analyst A. Arif now forecasts that the oil and gas company will post earnings per share of $0.26 for the quarter, up from their prior estimate of $0.23. Cormark also issued estimates for Encana’s Q1 2020 earnings at $0.36 EPS, Q2 2020 earnings at $0.30 EPS, Q3 2020 earnings at $0.31 EPS and Q4 2020 earnings at $0.32 EPS.
ECA has been the topic of several other research reports. TheStreet raised shares of Encana from a “d+” rating to a “c+” rating in a research report on Thursday, March 14th. CSFB reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Encana in a research report on Thursday, March 7th. JPMorgan Chase & Co. assumed coverage on shares of Encana in a research report on Monday, April 29th. They issued a “neutral” rating and a $12.00 target price on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $10.00 target price on shares of Encana in a research report on Wednesday, January 30th. Finally, Cowen raised shares of Encana from a “market perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research report on Monday, March 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $11.79.
Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Encana had a net margin of 11.48% and a return on equity of 10.79%. During the same quarter in the previous year, the company posted $0.16 EPS.
Several hedge funds have recently added to or reduced their stakes in the stock. Contrarius Investment Management Ltd increased its stake in shares of Encana by 0.4% during the fourth quarter. Contrarius Investment Management Ltd now owns 449,215 shares of the oil and gas company’s stock worth $2,596,000 after buying an additional 1,645 shares during the period. Comerica Bank increased its stake in shares of Encana by 3.2% during the fourth quarter. Comerica Bank now owns 61,116 shares of the oil and gas company’s stock worth $419,000 after buying an additional 1,915 shares during the period. Blair William & Co. IL increased its stake in shares of Encana by 4.5% during the first quarter. Blair William & Co. IL now owns 65,616 shares of the oil and gas company’s stock worth $475,000 after buying an additional 2,810 shares during the period. Wedbush Securities Inc. increased its stake in shares of Encana by 11.6% during the first quarter. Wedbush Securities Inc. now owns 27,258 shares of the oil and gas company’s stock worth $197,000 after buying an additional 2,829 shares during the period. Finally, Highland Capital Management LLC increased its stake in shares of Encana by 2.1% during the first quarter. Highland Capital Management LLC now owns 138,350 shares of the oil and gas company’s stock worth $1,002,000 after buying an additional 2,850 shares during the period. Hedge funds and other institutional investors own 54.21% of the company’s stock.
In other Encana news, COO Michael Gerard Mcallister purchased 5,200 shares of Encana stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $6.97 per share, with a total value of $36,244.00. Following the completion of the transaction, the chief operating officer now owns 36,377 shares of the company’s stock, valued at $253,547.69. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven W. Nance sold 16,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $7.40, for a total transaction of $118,400.00. Following the sale, the director now directly owns 82,146 shares in the company, valued at approximately $607,880.40. The disclosure for this sale can be found here. Insiders have bought 20,850 shares of company stock worth $139,582 in the last three months. Corporate insiders own 0.11% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.0188 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.08 annualized dividend and a dividend yield of 1.13%. Encana’s dividend payout ratio is presently 9.30%.
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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