Encana Corporation (NYSE:ECA) (TSE:ECA) was upgraded by equities research analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm presently has a $14.00 target price on the oil and gas company’s stock. Sanford C. Bernstein’s price target indicates a potential upside of 34.10% from the company’s current price.

A number of other brokerages have also recently issued reports on ECA. BidaskClub raised shares of Encana Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Scotiabank raised shares of Encana Corporation from an “underperform” rating to a “sector perform” rating and set a $11.00 price objective for the company in a research note on Friday, June 30th. Royal Bank Of Canada cut shares of Encana Corporation to a “hold” rating in a research note on Wednesday, July 5th. Raymond James Financial, Inc. raised shares of Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, July 5th. Finally, UBS AG raised shares of Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and four have issued a strong buy rating to the stock. Encana Corporation has a consensus rating of “Buy” and a consensus target price of $13.26.

Encana Corporation (ECA) remained flat at $10.44 during trading on Friday. 13,052,152 shares of the company’s stock traded hands. The firm has a market capitalization of $10.16 billion, a PE ratio of 12.44 and a beta of 2.06. Encana Corporation has a one year low of $8.01 and a one year high of $13.85. The company has a 50 day moving average of $9.53 and a 200-day moving average of $10.13.

Encana Corporation (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $773.19 million. During the same quarter in the prior year, the company earned $0.10 EPS. On average, equities analysts forecast that Encana Corporation will post $0.51 earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the stock. Stevens Capital Management LP bought a new position in shares of Encana Corporation in the 2nd quarter worth about $102,000. Gotham Asset Management LLC bought a new position in shares of Encana Corporation in the 2nd quarter worth about $109,000. Atria Investments LLC bought a new position in shares of Encana Corporation in the 2nd quarter worth about $113,000. Equity Investment Corp Acquisition Inc increased its stake in shares of Encana Corporation by 5.4% in the 2nd quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock worth $114,000 after acquiring an additional 666 shares in the last quarter. Finally, First Allied Advisory Services Inc. increased its stake in shares of Encana Corporation by 13.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 13,351 shares of the oil and gas company’s stock worth $119,000 after acquiring an additional 1,567 shares in the last quarter. Institutional investors own 66.76% of the company’s stock.

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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