Encana (NYSE:ECA) Price Target Lowered to $6.00 at Morgan Stanley

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Encana (NYSE:ECA) (TSE:ECA) had its target price lowered by Morgan Stanley from $6.50 to $6.00 in a report issued on Friday morning, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the oil and gas company’s stock.

Other research analysts also recently issued reports about the company. TheStreet upgraded ExOne from a d rating to a c rating in a report on Thursday, March 14th. Raymond James restated an average rating and set a $16.00 price objective on shares of Aeroflex in a report on Wednesday, May 1st. Goldman Sachs Group downgraded Encana to a buy rating in a report on Friday, April 12th. Sanford C. Bernstein downgraded Encana from an outperform rating to a market perform rating in a report on Tuesday, April 30th. Finally, Citigroup set a $27.00 price objective on PhaseBio Pharmaceuticals and gave the stock a buy rating in a report on Friday, May 24th. One 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. Encana presently has an average rating of Buy and a consensus target price of $11.11.

Shares of NYSE ECA opened at $4.75 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. The business has a 50 day simple moving average of $5.05. Encana has a fifty-two week low of $4.56 and a fifty-two week high of $14.28. The stock has a market capitalization of $7.21 billion, a P/E ratio of 5.52, a price-to-earnings-growth ratio of 1.06 and a beta of 2.02.

Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Encana had a return on equity of 10.79% and a net margin of 11.48%. During the same period last year, the business posted $0.16 EPS. Research analysts expect that Encana will post 0.63 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.0188 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.58%. Encana’s payout ratio is 9.30%.

In other Encana news, CFO Corey Douglas Code acquired 10,800 shares of the stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $6.00 per share, with a total value of $64,800.00. Following the transaction, the chief financial officer now directly owns 32,463 shares of the company’s stock, valued at $194,778. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce Gordon Waterman acquired 50,000 shares of the stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average cost of $5.06 per share, with a total value of $253,000.00. Following the transaction, the director now directly owns 250,000 shares in the company, valued at $1,265,000. The disclosure for this purchase can be found here. Insiders bought a total of 111,450 shares of company stock valued at $585,738 in the last three months. Insiders own 0.11% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Korea Investment CORP lifted its holdings in shares of Encana by 118.6% in the 4th quarter. Korea Investment CORP now owns 67,686 shares of the oil and gas company’s stock valued at $391,000 after buying an additional 431,847 shares during the period. Advisor Partners LLC lifted its holdings in shares of Encana by 156.9% in the 1st quarter. Advisor Partners LLC now owns 83,973 shares of the oil and gas company’s stock valued at $608,000 after buying an additional 51,292 shares during the period. Elliott Management Corp acquired a new position in shares of Encana in the 4th quarter valued at about $17,629,000. BB&T Corp lifted its holdings in shares of Encana by 271.9% in the 1st quarter. BB&T Corp now owns 262,541 shares of the oil and gas company’s stock valued at $1,900,000 after buying an additional 191,946 shares during the period. Finally, Henry James International Management Inc. lifted its holdings in shares of Encana by 48.2% in the 1st quarter. Henry James International Management Inc. now owns 406,989 shares of the oil and gas company’s stock valued at $2,947,000 after buying an additional 132,318 shares during the period. 70.23% 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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Analyst Recommendations for Encana (NYSE:ECA)

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