Encana (NYSE:ECA) Given “Outperform” Rating at Raymond James

Raymond James reaffirmed their outperform rating on shares of Encana (NYSE:ECA) (TSE:ECA) in a research report sent to investors on Thursday morning, BayStreet.CA reports. Raymond James currently has a $10.00 price objective on the oil and gas company’s stock.

Other research analysts have also issued research reports about the company. Goldman Sachs Group lowered Encana to a buy rating in a research report on Friday, April 12th. TD Securities cut their price target on Encana from $11.00 to $10.50 and set a buy rating on the stock in a research report on Wednesday, May 1st. Sanford C. Bernstein lowered Encana from an outperform rating to a market perform rating in a research report on Tuesday, April 30th. AltaCorp Capital reaffirmed an outperform rating on shares of Encana in a research report on Monday, April 8th. Finally, SunTrust Banks assumed coverage on Encana in a research report on Tuesday, July 30th. They set a hold rating and a $4.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $10.33.

ECA traded down $0.08 during trading on Thursday, hitting $4.40. 28,080,498 shares of the stock were exchanged, compared to its average volume of 24,844,492. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 5.12, a P/E/G ratio of 0.95 and a beta of 2.00. Encana has a 1-year low of $4.03 and a 1-year high of $14.28. The company’s fifty day simple moving average is $4.75. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61.

Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.75 billion. Encana had a return on equity of 11.40% and a net margin of 16.73%. On average, analysts forecast that Encana will post 0.67 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.0188 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.70%. Encana’s dividend payout ratio (DPR) is currently 9.30%.

In related news, CEO Douglas James Suttles bought 5,000 shares of the stock in a transaction on Monday, June 3rd. The shares were bought at an average cost of $5.33 per share, for a total transaction of $26,650.00. Following the purchase, the chief executive officer now owns 174,212 shares of the company’s stock, valued at approximately $928,549.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Suzanne P. Nimocks bought 10,000 shares of the stock in a transaction on Monday, June 17th. The stock was bought at an average price of $4.77 per share, for a total transaction of $47,700.00. Following the completion of the purchase, the director now directly owns 35,600 shares in the company, valued at approximately $169,812. The disclosure for this purchase can be found here. Insiders acquired a total of 116,450 shares of company stock worth $608,238 over the last quarter. Company insiders own 0.11% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Lee Financial Co purchased a new stake in shares of Encana in the first quarter valued at approximately $26,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of Encana in the first quarter valued at approximately $26,000. American Research & Management Co. purchased a new stake in shares of Encana in the first quarter valued at approximately $27,000. Beutel Goodman & Co Ltd. purchased a new stake in shares of Encana in the first quarter valued at approximately $31,000. Finally, TCI Wealth Advisors Inc. boosted its stake in shares of Encana by 383.9% in the first quarter. TCI Wealth Advisors Inc. now owns 4,892 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 3,881 shares in the last quarter. Institutional investors own 69.92% of the company’s stock.

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.

Featured Story: Yield Curve

Analyst Recommendations for Encana (NYSE:ECA)

Receive News & Ratings for Encana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encana and related companies with MarketBeat.com's FREE daily email newsletter.