Encana Corp (ECA) Expected to Announce Quarterly Sales of $1.42 Billion

Equities analysts predict that Encana Corp (NYSE:ECA) (TSE:ECA) will announce sales of $1.42 billion for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Encana’s earnings, with estimates ranging from $1.26 billion to $1.54 billion. Encana reported sales of $1.21 billion in the same quarter last year, which indicates a positive year over year growth rate of 17.4%. The business is expected to report its next earnings results on Thursday, February 21st.

According to Zacks, analysts expect that Encana will report full year sales of $4.75 billion for the current fiscal year, with estimates ranging from $4.26 billion to $5.19 billion. For the next fiscal year, analysts expect that the firm will report sales of $6.71 billion, with estimates ranging from $6.67 billion to $6.75 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Encana.

Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Encana had a negative net margin of 3.98% and a positive return on equity of 9.53%.

A number of research analysts have issued reports on ECA shares. Desjardins restated a “buy” rating and set a $17.00 target price on shares of Encana in a research report on Friday, July 27th. TD Securities set a $17.00 target price on shares of Encana and gave the stock a “buy” rating in a research report on Wednesday, August 1st. ValuEngine upgraded shares of Encana from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. National Bank Financial decreased their target price on shares of Encana from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, August 2nd. Finally, Zacks Investment Research upgraded shares of Encana from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $14.97.

Encana stock traded up $0.33 during trading hours on Thursday, hitting $7.39. The company had a trading volume of 29,945,966 shares, compared to its average volume of 35,945,336. The stock has a market cap of $6.72 billion, a P/E ratio of 17.19, a P/E/G ratio of 0.61 and a beta of 2.15. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.57. Encana has a one year low of $6.99 and a one year high of $14.31.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.81%. Encana’s dividend payout ratio is 13.95%.

In other news, Director Bruce Gordon Waterman purchased 25,000 shares of Encana stock in a transaction that occurred on Tuesday, November 13th. The shares were acquired at an average price of $8.12 per share, for a total transaction of $203,000.00. Following the transaction, the director now owns 200,000 shares of the company’s stock, valued at approximately $1,624,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sherri Anne Brillon purchased 17,250 shares of Encana stock in a transaction that occurred on Thursday, November 8th. The shares were purchased at an average price of $8.85 per share, for a total transaction of $152,662.50. Following the transaction, the chief financial officer now directly owns 114,165 shares in the company, valued at approximately $1,010,360.25. The disclosure for this purchase can be found here. Insiders have purchased a total of 235,655 shares of company stock worth $2,036,414 in the last quarter. 0.08% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its stake in Encana by 15.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 34,320 shares of the oil and gas company’s stock valued at $449,000 after purchasing an additional 4,535 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Encana by 274.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,002 shares of the oil and gas company’s stock valued at $213,000 after purchasing an additional 6,600 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in Encana by 421.1% in the 3rd quarter. Riverhead Capital Management LLC now owns 8,338 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 6,738 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Encana by 37.2% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 26,310 shares of the oil and gas company’s stock valued at $343,000 after purchasing an additional 7,140 shares during the last quarter. Finally, Andra AP fonden lifted its stake in Encana by 4.1% in the 3rd quarter. Andra AP fonden now owns 184,700 shares of the oil and gas company’s stock valued at $3,127,000 after purchasing an additional 7,200 shares during the last quarter. Institutional investors and hedge funds own 66.42% of the company’s stock.

About Encana

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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