Encana Corporation (ECA) Price Target Raised to $12.00
Encana Corporation (NYSE:ECA) (TSE:ECA) had its price target boosted by analysts at Barclays PLC from $9.00 to $12.00 in a research note issued to investors on Wednesday. The firm currently has an “overweight” rating on the oil and gas company’s stock. Barclays PLC’s price target would suggest a potential upside of 5.54% from the company’s previous close.
A number of other analysts have also recently weighed in on the company. TD Securities reaffirmed a “buy” rating and issued a $12.50 price target on shares of Encana Corporation in a research report on Sunday, October 1st. GMP Securities reissued a “buy” rating and set a $16.00 price objective on shares of Encana Corporation in a research report on Friday, September 29th. Macquarie raised Encana Corporation from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $10.00 to $14.50 in a research report on Thursday, September 28th. Royal Bank Of Canada boosted their price objective on Encana Corporation from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, September 25th. Finally, Sanford C. Bernstein raised Encana Corporation from a “market perform” rating to an “outperform” rating and upped their price target for the company from $10.00 to $14.00 in a report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.63.
Encana Corporation (NYSE ECA) traded up 0.220% during mid-day trading on Wednesday, hitting $11.395. The company had a trading volume of 5,783,165 shares. Encana Corporation has a one year low of $8.01 and a one year high of $13.85. The company has a market cap of $11.09 billion, a PE ratio of 13.250 and a beta of 2.12. The company’s 50 day moving average price is $10.40 and its 200-day moving average price is $10.19.
Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.15. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $773.19 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. Equities research analysts anticipate that Encana Corporation will post $0.50 EPS for the current fiscal year.
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Several hedge funds have recently added to or reduced their stakes in ECA. Bank of New York Mellon Corp grew its stake in shares of Encana Corporation by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,283,837 shares of the oil and gas company’s stock valued at $15,034,000 after purchasing an additional 58,456 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Encana Corporation by 17.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 32,319 shares of the oil and gas company’s stock valued at $378,000 after purchasing an additional 4,699 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Encana Corporation by 6.2% in the 1st quarter. JPMorgan Chase & Co. now owns 510,961 shares of the oil and gas company’s stock valued at $5,983,000 after purchasing an additional 29,647 shares during the period. Stifel Financial Corp grew its stake in shares of Encana Corporation by 2.6% in the 1st quarter. Stifel Financial Corp now owns 124,075 shares of the oil and gas company’s stock valued at $1,462,000 after purchasing an additional 3,164 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Encana Corporation in the 1st quarter valued at approximately $166,000. Institutional investors own 66.76% of the company’s stock.
Encana Corporation Company Profile
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.
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