Encana (ECA) Stock Rating Upgraded by AltaCorp Capital

Encana (TSE:ECA) (NYSE:ECA) was upgraded by equities research analysts at AltaCorp Capital from a “sector perform” rating to an “outperform” rating in a research note issued on Wednesday.

A number of other analysts also recently issued reports on the company. Scotiabank lifted their target price on Encana to C$16.25 and gave the company a “sector perform” rating in a research report on Friday, October 20th. Raymond James Financial lifted their target price on Encana to C$20.00 and gave the company a “strong-buy” rating in a research report on Friday, October 20th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of C$16.20.

Encana (TSE ECA) traded down C$0.47 on Wednesday, hitting C$12.83. The company’s stock had a trading volume of 6,392,500 shares, compared to its average volume of 3,610,000. Encana has a 1 year low of C$10.54 and a 1 year high of C$17.94. The firm has a market cap of $12,480.00, a P/E ratio of 12.83 and a beta of 1.67.

Encana (TSE:ECA) (NYSE:ECA) last released its quarterly earnings results on Wednesday, November 8th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.07 by C($0.04). Encana had a net margin of 34.15% and a return on equity of 17.15%. The firm had revenue of C$1.08 billion during the quarter, compared to analyst estimates of C$1.04 billion.

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About Encana

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 (TSE:ECA)

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