AltaCorp Capital Reaffirms Outperform Rating for Encana (ECA)
AltaCorp Capital restated their outperform rating on shares of Encana (TSE:ECA) (NYSE:ECA) in a report issued on Monday morning, Zacks.com reports.
Several other brokerages have also recently commented on ECA. BMO Capital Markets raised shares of Encana from a market perform rating to an outperform rating and cut their price target for the stock from C$12.00 to C$11.00 in a research report on Tuesday, January 8th. Jefferies Financial Group set a C$11.00 price objective on shares of Encana in a research note on Thursday, December 13th. Mizuho restated a neutral rating and set a C$10.50 price objective on shares of Encana in a research note on Wednesday, January 30th. National Bank Financial boosted their price objective on shares of Encana from C$10.50 to C$11.00 in a research note on Monday. Finally, Macquarie upgraded shares of Encana from a neutral rating to an outperform rating in a research note on Monday, March 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Encana presently has a consensus rating of Buy and an average target price of C$12.25.
Shares of TSE:ECA opened at C$9.64 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.05 and a debt-to-equity ratio of 60.33. Encana has a one year low of C$6.90 and a one year high of C$18.54. The stock has a market cap of $13.81 billion and a price-to-earnings ratio of 8.68.
Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It holds interests in various assets, including the Montney in northeast British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.
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