Encana Corporation (NYSE:ECA) (TSE:ECA) has been assigned a $14.00 price objective by investment analysts at Jefferies Group LLC in a research note issued on Wednesday, July 19th. The firm presently has a “buy” rating on the oil and gas company’s stock. Jefferies Group LLC’s price target suggests a potential upside of 46.90% from the stock’s previous close. Jefferies Group also issued estimates for Encana Corporation’s Q2 2017 earnings at $0.04 EPS, Q4 2017 earnings at $0.16 EPS, FY2017 earnings at $0.43 EPS, Q1 2018 earnings at $0.19 EPS, Q3 2018 earnings at $0.25 EPS and FY2018 earnings at $0.97 EPS.
Several other research firms also recently issued reports on ECA. Canaccord Genuity restated a “buy” rating and set a $14.00 price objective on shares of Encana Corporation in a report on Tuesday, April 11th. Desjardins restated a “hold” rating and set a $13.75 price objective on shares of Encana Corporation in a report on Thursday, March 30th. GMP Securities restated a “hold” rating and set a $13.25 price objective on shares of Encana Corporation in a report on Friday, March 31st. Barclays PLC reiterated an “overweight” rating and issued a $12.00 price target (down from $15.00) on shares of Encana Corporation in a report on Saturday, April 22nd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $14.00 price target on shares of Encana Corporation in a report on Monday, May 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $13.32.
Encana Corporation (NYSE:ECA) traded down 0.682% during trading on Wednesday, reaching $9.465. 9,027,495 shares of the company’s stock traded hands. The firm has a market capitalization of $9.21 billion, a PE ratio of 11.281 and a beta of 2.04. Encana Corporation has a one year low of $8.01 and a one year high of $13.85. The company has a 50-day moving average price of $9.41 and a 200 day moving average price of $10.58.
Encana Corporation (NYSE:ECA) (TSE:ECA) last posted its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.15. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $773.19 million. During the same period in the previous year, the business earned $0.10 EPS. On average, analysts anticipate that Encana Corporation will post $0.50 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its position in Encana Corporation by 0.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,898 shares of the oil and gas company’s stock valued at $233,000 after buying an additional 124 shares during the last quarter. Wetherby Asset Management Inc. raised its position in Encana Corporation by 0.6% in the first quarter. Wetherby Asset Management Inc. now owns 23,644 shares of the oil and gas company’s stock valued at $277,000 after buying an additional 133 shares during the last quarter. Howard Hughes Medical Institute raised its position in Encana Corporation by 0.3% in the first quarter. Howard Hughes Medical Institute now owns 144,220 shares of the oil and gas company’s stock valued at $1,689,000 after buying an additional 389 shares during the last quarter. Sentinel Trust Co. LBA raised its position in Encana Corporation by 0.3% in the second quarter. Sentinel Trust Co. LBA now owns 186,720 shares of the oil and gas company’s stock valued at $1,644,000 after buying an additional 490 shares during the last quarter. Finally, Equity Investment Corp Acquisition Inc raised its position in Encana Corporation by 5.4% in the second 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. 73.08% of the stock is currently owned by hedge funds and other institutional investors.
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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