Encana Corporation (NYSE:ECA) (TSE:ECA) has been given a $12.00 price target by stock analysts at Canaccord Genuity in a report issued on Thursday. The firm currently has a “buy” rating on the oil and gas company’s stock. Canaccord Genuity’s price target points to a potential upside of 30.86% from the company’s previous close.

Several other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Encana Corporation from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Thursday, July 27th. Desjardins reaffirmed a “hold” rating and issued a $13.50 price target on shares of Encana Corporation in a report on Tuesday, July 25th. AltaCorp Capital raised shares of Encana Corporation from a “sector perform” rating to an “outperform” rating in a report on Monday, July 24th. KLR Group reaffirmed a “buy” rating and issued a $18.00 price target (up previously from $16.00) on shares of Encana Corporation in a report on Monday, July 24th. Finally, Raymond James Financial, Inc. upped their price target on shares of Encana Corporation from $14.00 to $15.00 and gave the company a “strong-buy” rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Encana Corporation has a consensus rating of “Buy” and an average target price of $13.32.

Encana Corporation (ECA) traded up 1.21% during midday trading on Thursday, hitting $9.17. The stock had a trading volume of 10,295,786 shares. The stock has a 50 day moving average of $9.48 and a 200 day moving average of $10.51. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 10.66 and a beta of 2.04. Encana Corporation has a 12 month low of $8.01 and a 12 month high of $13.85.

Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.15. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $773.19 million. During the same period in the prior year, the business posted $0.10 earnings per share. Analysts expect that Encana Corporation will post $0.50 EPS for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of the company. Causeway Capital Management LLC increased its position in Encana Corporation by 95.2% in the first quarter. Causeway Capital Management LLC now owns 48,768,776 shares of the oil and gas company’s stock worth $571,082,000 after buying an additional 23,779,815 shares in the last quarter. BlackRock Inc. increased its position in Encana Corporation by 15.4% in the second quarter. BlackRock Inc. now owns 25,264,984 shares of the oil and gas company’s stock worth $222,330,000 after buying an additional 3,368,871 shares in the last quarter. Vanguard Group Inc. increased its position in Encana Corporation by 4.3% in the second quarter. Vanguard Group Inc. now owns 23,620,300 shares of the oil and gas company’s stock worth $207,858,000 after buying an additional 982,600 shares in the last quarter. FMR LLC increased its position in Encana Corporation by 6.3% in the first quarter. FMR LLC now owns 22,080,449 shares of the oil and gas company’s stock worth $258,686,000 after buying an additional 1,309,218 shares in the last quarter. Finally, Steadfast Capital Management LP increased its position in Encana Corporation by 5.0% in the second quarter. Steadfast Capital Management LP now owns 20,963,596 shares of the oil and gas company’s stock worth $184,480,000 after buying an additional 989,023 shares in the last quarter. 73.08% of the stock is currently owned by institutional investors.

About Encana Corporation

Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. The Company’s operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America.

Analyst Recommendations for Encana Corporation (NYSE:ECA)

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