Encana Corp (ECA) Given a $14.00 Price Target by BMO Capital Markets Analysts
Encana Corp (NYSE:ECA) (TSE:ECA) has been assigned a $14.00 price target by investment analysts at BMO Capital Markets in a note issued to investors on Thursday. The brokerage presently has a “buy” rating on the oil and gas company’s stock. BMO Capital Markets’ target price suggests a potential upside of 23.02% from the stock’s current price.
ECA has been the topic of several other research reports. Scotiabank upgraded Encana Corp from an “underperform” rating to a “sector perform” rating and set a $11.00 price objective on the stock in a report on Friday, June 30th. BidaskClub upgraded Encana Corp from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Barclays PLC reiterated an “overweight” rating and issued a $8.00 price objective on shares of Encana Corp in a report on Saturday, July 22nd. Royal Bank Of Canada lifted their price objective on Encana Corp from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Monday, September 25th. Finally, AltaCorp Capital upgraded Encana Corp from a “sector perform” rating to an “outperform” rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $14.11.
Shares of Encana Corp (NYSE ECA) traded down 1.22% during midday trading on Thursday, hitting $11.38. The stock had a trading volume of 12,764,934 shares. Encana Corp has a 1-year low of $8.01 and a 1-year high of $13.85. The firm’s 50-day moving average price is $10.87 and its 200-day moving average price is $10.21. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of 13.56 and a beta of 2.12.
Encana Corp (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.15. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $773.19 million. Encana Corp had a return on equity of 19.95% and a net margin of 30.56%. During the same quarter in the previous year, the business earned $0.10 earnings per share. Analysts forecast that Encana Corp will post $0.50 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. Steadfast Capital Management LP boosted its position in shares of Encana Corp by 12.2% in the 1st quarter. Steadfast Capital Management LP now owns 19,974,573 shares of the oil and gas company’s stock worth $233,902,000 after purchasing an additional 2,164,300 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Encana Corp by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 22,637,700 shares of the oil and gas company’s stock worth $265,086,000 after purchasing an additional 994,074 shares in the last quarter. Capital Fund Management S.A. boosted its position in shares of Encana Corp by 103.1% in the 2nd quarter. Capital Fund Management S.A. now owns 563,668 shares of the oil and gas company’s stock worth $4,960,000 after purchasing an additional 286,089 shares in the last quarter. Parkwood LLC boosted its position in shares of Encana Corp by 15.4% in the 2nd quarter. Parkwood LLC now owns 376,727 shares of the oil and gas company’s stock worth $3,315,000 after purchasing an additional 50,376 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Encana Corp by 15.4% in the 2nd quarter. BlackRock Inc. now owns 25,264,984 shares of the oil and gas company’s stock worth $222,330,000 after purchasing an additional 3,368,871 shares in the last quarter. 66.76% of the stock is currently owned by hedge funds and other institutional investors.
About Encana Corp
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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