Encana (NYSE:ECA) (TSE:ECA) had its target price raised by stock analysts at Royal Bank of Canada from $15.00 to $16.00 in a report issued on Tuesday. The firm currently has an “outperform” rating on the oil and gas company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 18.96% from the stock’s previous close.
A number of other brokerages also recently weighed in on ECA. BMO Capital Markets set a $17.00 price objective on Encana and gave the company a “buy” rating in a research report on Thursday, January 11th. Zacks Investment Research raised Encana from a “sell” rating to a “hold” rating in a research report on Friday. Desjardins raised Encana from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Friday. AltaCorp Capital cut Encana from an “outperform” rating to a “sector perform” rating and set a $14.50 price objective for the company. in a research report on Monday. Finally, Canaccord Genuity reissued a “buy” rating and set a $16.00 price objective on shares of Encana in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company. Encana currently has an average rating of “Buy” and an average price target of $15.04.
Shares of Encana (ECA) traded down $0.52 during midday trading on Tuesday, hitting $13.45. The company had a trading volume of 9,220,000 shares, compared to its average volume of 8,410,000. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.60. The firm has a market cap of $13,260.00, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.97 and a beta of 2.15. Encana has a twelve month low of $8.01 and a twelve month high of $14.31.
Encana (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Encana had a net margin of 19.08% and a return on equity of 5.95%. sell-side analysts expect that Encana will post 0.43 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Commerce Bank bought a new stake in shares of Encana in the 3rd quarter valued at approximately $118,000. Stevens Capital Management LP bought a new stake in shares of Encana in the 2nd quarter valued at approximately $102,000. Gotham Asset Management LLC bought a new stake in shares of Encana in the 2nd quarter valued at approximately $109,000. First Allied Advisory Services Inc. grew its stake in shares of Encana 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 valued at $119,000 after purchasing an additional 1,567 shares during the period. Finally, Krilogy Financial LLC bought a new stake in shares of Encana in the 3rd quarter valued at approximately $165,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.
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Encana 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.