Encana (NYSE:ECA) Announces Earnings Results

Encana (NYSE:ECA) (TSE:ECA) announced its quarterly earnings data on Wednesday. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03, Briefing.com reports. Encana had a net margin of 11.48% and a return on equity of 10.79%.

Shares of ECA traded up $0.18 during mid-day trading on Wednesday, reaching $4.57. The company had a trading volume of 45,253,564 shares, compared to its average volume of 27,824,307. The business’s 50 day moving average price is $4.77. Encana has a 1-year low of $4.03 and a 1-year high of $14.28. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. The company has a market cap of $6.56 billion, a P/E ratio of 5.31, a price-to-earnings-growth ratio of 0.86 and a beta of 2.02.

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 paid a $0.0188 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.64%. Encana’s payout ratio is currently 9.30%.

ECA has been the topic of a number of analyst reports. Raymond James reiterated an “outperform” rating and set a $11.00 price objective on shares of Encana in a research note on Wednesday, May 1st. AltaCorp Capital reiterated an “outperform” rating on shares of Encana in a research note on Monday, April 8th. Barclays initiated coverage on shares of Encana in a research note on Wednesday, April 3rd. They set an “overweight” rating and a $11.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on shares of Encana in a research note on Monday, April 29th. They set a “neutral” rating and a $12.00 price objective on the stock. Finally, SunTrust Banks initiated coverage on shares of Encana in a research note on Tuesday. They set a “hold” rating and a $4.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $10.79.

In other Encana news, Director Bruce Gordon Waterman bought 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average cost of $5.06 per share, for a total transaction of $253,000.00. Following the transaction, the director now directly owns 250,000 shares in the company, valued at $1,265,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Suzanne P. Nimocks bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of $4.77 per share, for a total transaction of $47,700.00. Following the completion of the transaction, the director now owns 35,600 shares in the company, valued at $169,812. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 111,450 shares of company stock worth $585,738. 0.11% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in Encana by 14.0% in the 4th quarter. Geode Capital Management LLC now owns 815,794 shares of the oil and gas company’s stock worth $4,674,000 after purchasing an additional 100,023 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Encana in the 4th quarter worth about $305,000. MML Investors Services LLC increased its stake in Encana by 51.3% in the 4th quarter. MML Investors Services LLC now owns 41,883 shares of the oil and gas company’s stock worth $242,000 after purchasing an additional 14,204 shares in the last quarter. First Allied Advisory Services Inc. increased its stake in Encana by 35.6% in the 4th quarter. First Allied Advisory Services Inc. now owns 14,536 shares of the oil and gas company’s stock worth $85,000 after purchasing an additional 3,819 shares in the last quarter. Finally, HRT Financial LLC purchased a new position in Encana in the 4th quarter worth about $218,000. Institutional investors and hedge funds 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.

Recommended Story: What is the formula for calculating total return?

Earnings History 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.