Encana Corporation (ECA) Cut to Hold at Royal Bank Of Canada

Paterniano Del Favero
Luglio 24, 2017

Causeway Capital Management LLC raised its position in shares of Encana Corporation by 95.2% in the first quarter. Accern also assigned news articles about the oil and gas company an impact score of 71 out of 100, meaning that recent press coverage is likely to have an effect on the company's share price in the immediate future.

Several research analysts recently commented on the company. Candriam Luxembourg S.C.A. boosted its stake in shares of Encana Corporation by 23.7% in the first quarter. TCW Group Inc. now owns 29,700 shares of the oil and gas company's stock valued at $349,000 after buying an additional 2,700 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in Encana Corporation during the second quarter valued at about $118,000. Steadfast Capital Management LP now owns 19,974,573 shares of the oil and gas company's stock valued at $233,902,000 after buying an additional 2,164,300 shares in the last quarter. Finally, Allianz Asset Management AG purchased a new position in Encana Corporation during the fourth quarter valued at $370,000. Institutional investors and hedge funds own 72.62% of the company's stock.

Shares of Encana Corporation (NYSE:ECA) traded up 1.65% during mid-day trading on Friday, reaching $9.83. 30,368,243 shares of the company were exchanged. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 11.63 and a beta of 2.02.

The stock's 50 day moving average is 9.02 and its 200 day moving average is 10.97. Encana Corporation has a 1-year low of $7.50 and a 1-year high of $13.85.

Encana Corp (TSE:ECA) (NYSE:ECA) was upgraded by analysts at TD Securities from a "hold" rating to a "buy" rating in a research report issued on Friday, June 30th, StockTargetPrices.com reports. The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $773.19 million.

Encana Corporation (ECA) stock go down so far this year; showing a decline of -16.27% and added with positive flow of 4.02% during recent week. On average, analysts expect that Encana Corporation will post $0.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.61%. Encana Corporation's dividend payout ratio is now -31.58%.

TRADEMARK VIOLATION NOTICE: "Encana Corporation (ECA) Expected to Post Quarterly Sales of $819.36 Million" was posted by Transcript Daily and is the property of of Transcript Daily. If you are reading this piece of content on another site, it was stolen and reposted in violation of USA & worldwide trademark & copyright legislation. The legal version of this report can be viewed at https://www.thestockobserver.com/2017/07/23/encana-corporation-eca-stake-lowered-by-ubs-oconnor-llc-updated-updated-updated.html. This is based on the research brokerage reports taken into consideration by Thomson Reuters.

At the end of March reporting period, 168 institutional holders increased their position in Encana Corporation (NYSE:ECA) by some 99,190,962 shares, 160 decreased positions by 92,118,919 and 56 held positions by 484,299,399. GMP Securities restated a "hold" rating and set a $13.25 price objective on shares of Encana Corporation in a research note on Friday, March 31st. Canaccord Genuity set a $14.00 price objective on shares of Encana Corporation and gave the company a buy rating in a research report on Tuesday, June 20th. Finally, Barclays PLC restated an "overweight" rating and set a $12.00 target price (down previously from $15.00) on shares of Encana Corporation in a report on Saturday, April 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the stock. The stock of Encana Corp (USA) (NYSE:ECA) has "Buy" rating given on Wednesday, December 9 by Deutsche Bank.

Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids producing plays.

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