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Zacks upgraded shares of Eca Marcellus Trust I (NYSE:ECT) from a sell rating to a hold rating in a research note issued to investors on Tuesday.
Zacks has also taken action a number of other stocks recently. The firm downgraded shares of Insmed Incorporated from a buy rating to a hold rating. Also, Zacks downgraded shares of Grupo Financiero Galicia S.A. from a strong-buy rating to a hold rating. Finally, Zacks downgraded shares of Syneron Medical Ltd. from a hold rating to a sell rating.
Eca Marcellus Trust I (NYSE:ECT) traded down 1.42% during mid-day trading on Tuesday, hitting $3.48. The stock had a trading volume of 48,396 shares. Eca Marcellus Trust I has a 1-year low of $2.98 and a 1-year high of $7.49. The stock has a 50-day moving average of $3. and a 200-day moving average of $3.. The company has a market cap of $61.26 million and a P/E ratio of 3.49.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 20th will be given a dividend of $0.084 per share. This represents a $0.34 dividend on an annualized basis and a yield of 9.66%. The ex-dividend date of this dividend is Monday, May 18th.
ECA Marcellus Trust I (NYSE:ECT) is a trust formed by Energy Corporation of America (ECA) to own royalty interests in fourteen producing horizontal natural gas wells producing from the Marcellus Shale formation and located in Greene County, Pennsylvania (the Producing Wells) and royalty interests in 52 horizontal natural gas development wells to be drilled to the Marcellus Shale formation (the PUD Wells) within the Area of Mutual Interest (AMI) consisted of 9,300 net acres held by ECA in Greene County, Pennsylvania.
To get a free copy of the research report on Eca Marcellus Trust I (ECT), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com
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