Encana (NYSE:ECA) Posts Earnings Results, Beats Expectations By $0.03 EPS

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Encana (NYSE:ECA) (TSE:ECA) released its earnings results on Wednesday, July 31st. The oil and gas company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03, Briefing.com reports. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.75 billion. Encana had a return on equity of 10.76% and a net margin of 16.73%.

Shares of Encana stock opened at $4.14 on Friday. Encana has a twelve month low of $3.92 and a twelve month high of $13.61. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 5.27, a PEG ratio of 1.03 and a beta of 2.00. The business’s 50 day simple moving average is $4.60 and its 200-day simple moving average is $6.05.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.0188 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Thursday, September 12th. Encana’s payout ratio is 9.30%.

Several equities research analysts have commented on ECA shares. Raymond James restated an “outperform” rating and set a $10.00 price target on shares of Encana in a research note on Thursday, August 1st. Citigroup set a $11.00 target price on Encana and gave the company a “buy” rating in a research note on Friday, May 24th. TD Securities lowered their target price on Encana from $11.00 to $10.50 and set a “buy” rating for the company in a research note on Wednesday, May 1st. SunTrust Banks assumed coverage on Encana in a research note on Tuesday, July 30th. They issued a “hold” rating and a $4.00 target price for the company. Finally, National Bank Financial increased their price target on Encana from $8.50 to $9.50 and gave the company an “outperform” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $10.33.

In related news, CEO Douglas James Suttles acquired 10,000 shares of Encana stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $4.19 per share, with a total value of $41,900.00. Following the purchase, the chief executive officer now directly owns 194,212 shares in the company, valued at approximately $813,748.28. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Fred J. Fowler bought 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average cost of $4.00 per share, with a total value of $100,000.00. Following the transaction, the director now owns 30,000 shares of the company’s stock, valued at $120,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 145,800 shares of company stock worth $713,300. 0.11% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Davis Selected Advisers boosted its position in Encana by 22.5% during the second quarter. Davis Selected Advisers now owns 50,296,797 shares of the oil and gas company’s stock valued at $258,023,000 after purchasing an additional 9,233,820 shares during the last quarter. Vanguard Group Inc. boosted its position in Encana by 2.8% during the second quarter. Vanguard Group Inc. now owns 44,090,911 shares of the oil and gas company’s stock valued at $226,187,000 after purchasing an additional 1,200,640 shares during the last quarter. Letko Brosseau & Associates Inc. boosted its position in Encana by 5.2% during the second quarter. Letko Brosseau & Associates Inc. now owns 36,377,108 shares of the oil and gas company’s stock valued at $187,070,000 after purchasing an additional 1,806,686 shares during the last quarter. Clearbridge Investments LLC boosted its position in Encana by 188.5% during the first quarter. Clearbridge Investments LLC now owns 34,195,526 shares of the oil and gas company’s stock valued at $247,576,000 after purchasing an additional 22,343,259 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Encana by 80.2% during the second quarter. Invesco Ltd. now owns 29,383,179 shares of the oil and gas company’s stock valued at $150,734,000 after purchasing an additional 13,076,923 shares during the last quarter. 69.98% of the stock is owned by hedge funds and other institutional investors.

About Encana

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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Earnings History for Encana (NYSE:ECA)

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