Encana (NYSE:ECA) (TSE:ECA) was upgraded by Desjardins from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm currently has a $16.00 target price on the oil and gas company’s stock. Desjardins’ target price suggests a potential upside of 14.45% from the stock’s previous close.
A number of other research analysts also recently commented on ECA. Sanford C. Bernstein upgraded Encana from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $10.00 to $14.00 in a report on Friday, September 15th. Royal Bank of Canada increased their price objective on Encana from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Monday, September 25th. Macquarie upgraded Encana from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $10.00 to $14.50 in a report on Thursday, September 28th. GMP Securities reiterated a “buy” rating and issued a $16.00 price objective on shares of Encana in a report on Friday, September 29th. Finally, TD Securities reiterated a “buy” rating and issued a $12.50 price objective on shares of Encana in a report on Sunday, October 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Encana presently has a consensus rating of “Buy” and an average target price of $15.02.
Encana (NYSE ECA) traded down $0.06 on Friday, hitting $13.98. The stock had a trading volume of 9,015,202 shares, compared to its average volume of 8,340,000. Encana has a fifty-two week low of $8.01 and a fifty-two week high of $14.31. The stock has a market cap of $13,610.00, a P/E ratio of 17.48, a P/E/G ratio of 1.98 and a beta of 2.15. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.60.
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.