Brokerages expect Encana Corp (NYSE:ECA) (TSE:ECA) to post earnings of $0.12 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Encana’s earnings. The highest EPS estimate is $0.24 and the lowest is $0.06. Encana also reported earnings per share of $0.12 in the same quarter last year. The firm is scheduled to issue its next quarterly earnings results on Thursday, February 21st.
On average, analysts expect that Encana will report full year earnings of $0.62 per share for the current financial year, with EPS estimates ranging from $0.23 to $0.78. For the next fiscal year, analysts forecast that the business will post earnings of $0.74 per share, with EPS estimates ranging from $0.14 to $1.32. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Encana.
Several research firms recently commented on ECA. CIBC raised Encana from a “sector underperform” rating to a “neutral” rating in a report on Thursday, January 31st. Jefferies Financial Group reaffirmed a “buy” rating and set a $10.00 target price on shares of Encana in a report on Wednesday, January 30th. Mizuho began coverage on Encana in a report on Tuesday, January 29th. They set a “neutral” rating and a $8.00 target price on the stock. AltaCorp Capital raised Encana from a “sector perform” rating to an “outperform” rating in a report on Monday, January 7th. Finally, BMO Capital Markets raised Encana from a “market perform” rating to an “outperform” rating in a report on Monday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Encana presently has an average rating of “Buy” and an average target price of $14.22.
Encana stock opened at $6.40 on Thursday. The stock has a market cap of $5.93 billion, a P/E ratio of 14.88, a P/E/G ratio of 0.44 and a beta of 2.09. Encana has a 52 week low of $5.00 and a 52 week high of $14.28. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.57.
In other news, insider Douglas James Suttles bought 5,000 shares of the firm’s stock in a transaction dated Thursday, December 6th. The shares were acquired at an average price of $6.42 per share, for a total transaction of $32,100.00. Following the completion of the transaction, the insider now directly owns 154,212 shares in the company, valued at approximately $990,041.04. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Fred J. Fowler bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 18th. The stock was purchased at an average price of $5.64 per share, for a total transaction of $56,400.00. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at $141,000. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 31,500 shares of company stock worth $192,870. 0.09% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Focused Wealth Management Inc lifted its position in shares of Encana by 200.0% in the fourth quarter. Focused Wealth Management Inc now owns 6,000 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 12,000 shares in the last quarter. Lindbrook Capital LLC purchased a new position in shares of Encana in the fourth quarter valued at approximately $36,000. Riverhead Capital Management LLC lifted its position in shares of Encana by 421.1% in the third quarter. Riverhead Capital Management LLC now owns 8,338 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 6,738 shares in the last quarter. FDx Advisors Inc. purchased a new position in shares of Encana in the fourth quarter valued at approximately $62,000. Finally, Whittier Trust Co. lifted its position in shares of Encana by 52.8% in the fourth quarter. Whittier Trust Co. now owns 11,876 shares of the oil and gas company’s stock valued at $69,000 after acquiring an additional 4,104 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.
Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company holds interests in various assets, including the Montney in northern 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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