Encana Corporation (NYSE:ECA) (TSE:ECA) has been given a $14.00 price target by equities research analysts at Jefferies Group LLC in a report issued on Wednesday. The firm currently has a “buy” rating on the oil and gas company’s stock. Jefferies Group LLC’s price target suggests a potential upside of 44.78% from the stock’s previous close.
A number of other analysts have also recently commented on ECA. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $14.00 price target on shares of Encana Corporation in a research note on Monday, May 29th. Scotiabank raised Encana Corporation from an “underperform” rating to a “sector perform” rating and set a $11.00 price target for the company in a research note on Friday, June 30th. TD Securities lowered their price target on Encana Corporation from $12.50 to $11.50 and set a “hold” rating for the company in a research note on Tuesday, June 13th. Desjardins reaffirmed a “hold” rating and issued a $13.75 price target on shares of Encana Corporation in a research note on Thursday, March 30th. Finally, BidaskClub raised Encana Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $13.42.
Encana Corporation (NYSE ECA) opened at 9.67 on Wednesday. The stock’s market capitalization is $9.41 billion. Encana Corporation has a 52-week low of $7.50 and a 52-week high of $13.85. The stock has a 50 day moving average of $9.02 and a 200 day moving average of $10.98.
Encana Corporation (NYSE:ECA) (TSE:ECA) last released its earnings results on Tuesday, May 2nd. The oil and gas company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. Encana Corporation had a negative net margin of 3.87% and a positive return on equity of 5.21%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $789.49 million. During the same period in the prior year, the company posted ($0.15) EPS. On average, equities research analysts forecast that Encana Corporation will post $0.35 EPS for the current year.
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Several institutional investors have recently modified their holdings of ECA. Causeway Capital Management LLC boosted its position in shares of Encana Corporation by 95.2% in the first quarter. Causeway Capital Management LLC now owns 48,768,776 shares of the oil and gas company’s stock valued at $571,082,000 after buying an additional 23,779,815 shares in the last quarter. BlackRock Inc. boosted its position in shares of Encana Corporation by 11,232.3% in the first quarter. BlackRock Inc. now owns 21,896,113 shares of the oil and gas company’s stock valued at $256,403,000 after buying an additional 21,702,894 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Encana Corporation by 337.3% in the first quarter. Wellington Management Group LLP now owns 12,168,568 shares of the oil and gas company’s stock valued at $142,337,000 after buying an additional 9,385,795 shares in the last quarter. Steadfast Capital Management LP boosted its position in shares of Encana Corporation by 12.2% in the first quarter. Steadfast Capital Management LP now owns 19,974,573 shares of the oil and gas company’s stock valued at $233,902,000 after buying an additional 2,164,300 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Encana Corporation during the first quarter valued at $21,564,000. 72.62% of the stock is owned by institutional investors.
About Encana Corporation
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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