Encana Corporation (ECA) Rating Reiterated by TD Securities
Encana Corporation (NYSE:ECA) (TSE:ECA)‘s stock had its “buy” rating reaffirmed by TD Securities in a report issued on Sunday. They currently have a $12.50 price target on the oil and gas company’s stock. TD Securities’ price target indicates a potential upside of 7.39% from the stock’s previous close.
Several other research firms also recently commented on ECA. UBS AG raised shares of Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. BidaskClub lowered shares of Encana Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Canaccord Genuity set a $14.00 price target on shares of Encana Corporation and gave the company a “buy” rating in a research report on Tuesday, June 20th. GMP Securities reaffirmed a “buy” rating and issued a $16.00 price target on shares of Encana Corporation in a research report on Friday. Finally, AltaCorp Capital upgraded Encana Corporation from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $13.52.
Encana Corporation (NYSE ECA) opened at 11.64 on Friday. Encana Corporation has a one year low of $8.01 and a one year high of $13.85. The company has a market cap of $11.33 billion, a PE ratio of 13.87 and a beta of 2.11. The stock has a 50 day moving average price of $10.02 and a 200 day moving average price of $10.15.
Encana Corporation (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.15. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $773.19 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. On average, equities analysts anticipate that Encana Corporation will post $0.51 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in ECA. Stevens Capital Management LP bought a new stake in shares of Encana Corporation in the second quarter valued at $102,000. Gotham Asset Management LLC purchased a new position in shares of Encana Corporation during the 2nd quarter valued at $109,000. Atria Investments LLC purchased a new position in shares of Encana Corporation during the 2nd quarter valued at $113,000. Equity Investment Corp Acquisition Inc lifted its position in shares of Encana Corporation by 5.4% during the 2nd quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 666 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Encana Corporation during the 2nd quarter valued at $118,000. 66.75% of the stock is owned by institutional investors and hedge funds.
Encana Corporation 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.
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