Encana (NYSE:ECA) (TSE:ECA) received a $14.00 price objective from research analysts at Jefferies Financial Group in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 57.48% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on ECA. BMO Capital Markets reiterated a “buy” rating and set a $18.00 price objective on shares of Encana in a research note on Thursday, October 11th. Zacks Investment Research downgraded shares of Encana from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. National Bank Financial reduced their price objective on shares of Encana from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, August 2nd. Canaccord Genuity reiterated a “buy” rating and set a $19.00 price objective on shares of Encana in a research note on Thursday, July 12th. Finally, CIBC began coverage on shares of Encana in a research note on Friday, October 5th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.12.
NYSE:ECA traded down $0.07 during mid-day trading on Friday, reaching $8.89. 389,496 shares of the company’s stock were exchanged, compared to its average volume of 12,713,082. Encana has a one year low of $8.44 and a one year high of $14.31. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 0.91 and a beta of 2.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.73 and a current ratio of 0.73.
Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. Encana had a net margin of 1.49% and a return on equity of 7.30%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.25 billion. Sell-side analysts anticipate that Encana will post 0.7 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of ECA. FMR LLC boosted its stake in shares of Encana by 70.2% in the 2nd quarter. FMR LLC now owns 41,979,114 shares of the oil and gas company’s stock valued at $548,226,000 after purchasing an additional 17,318,112 shares in the last quarter. Morgan Stanley boosted its stake in shares of Encana by 34.2% in the 2nd quarter. Morgan Stanley now owns 19,464,355 shares of the oil and gas company’s stock valued at $254,011,000 after purchasing an additional 4,962,470 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Encana by 37.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,307,169 shares of the oil and gas company’s stock valued at $186,745,000 after purchasing an additional 3,900,950 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Encana in the 2nd quarter valued at approximately $21,174,000. Finally, TD Asset Management Inc. boosted its stake in shares of Encana by 19.3% in the 2nd quarter. TD Asset Management Inc. now owns 8,407,328 shares of the oil and gas company’s stock valued at $109,737,000 after purchasing an additional 1,362,500 shares in the last quarter. Institutional investors own 67.32% of the company’s stock.
Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company holds interests in various assets, including the Montney in northern 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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