FirstEnergy Upgrades Encana Corporation (USA) to Market Perform

Brokerage firm FirstEnergy Upgrades its rating on Encana Corporation (USA)(NYSE:ECA). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by FirstEnergy was issued on Jul 26, 2016.

In a different note, On Jul 14, 2016, Barclays said it Maintains its rating on Encana Corporation (USA). In the research note, the firm Raises the price-target to $6.00 per share. The shares have been rated ‘Equalweight’ by the firm. On Jun 23, 2016, Macquarie said it Downgrades its rating on Encana Corporation (USA). The shares have been rated ‘Underperform’ by the firm. On Jun 14, 2016, Deutsche Bank said it Maintains its rating on Encana Corporation (USA). In the research note, the firm Raises the price-target to $10.00 per share. The shares have been rated ‘Buy’ by the firm.

Encana Corporation (USA) (ECA) made into the market gainers list on Fridays trading session with the shares advancing 3.74% or 0.29 points. Due to strong positive momentum, the stock ended at $8.05, which is also near the day’s high of $8.05. The stock began the session at $7.71 and the volume stood at 79,51,095 shares. The 52-week high of the shares is $9.23 and the 52 week low is $3. The company has a current market capitalization of $6,842 M and it has 84,99,00,000 shares in outstanding.

Encana Corporation (USA) has also declared a cash dividend of $0.0150 on Jul 21, 2016. The shares will quote ex-dividend on Sep 13, 2016 and the record date has been fixed on Sep 15, 2016. The dividend payable date has been fixed on Sep 30, 2016.

Encana Corporation (USA)(ECA) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $364.00M. Analysts had an estimated revenue of $703.29M. Earnings per share were $0.10. Analysts had estimated an EPS of $-0.09.

Encana Corporation is engaged in the business of the exploration development production and marketing of natural gas oil and natural gas liquids (NGLs). The Company operates through three business segments: Canadian Operations which includes the exploration for development of and production of natural gas oil and NGLs and other related activities within Canada; USA Operations which includes the exploration for development of and production of natural gas oil and NGLs and other related activities within the United States and Market Optimization which includes third-party purchases and sales of products that provide operational flexibility for transportation commitments product type delivery points and customer diversification. Market Optimization sells all of the Company’s upstream production to third-party customers. Its growth assets include Permian; Tuscaloosa Marine Shale; Eagle Ford; Montney; Duvernay; DJ Basin and San Juan.

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