National Bank Financial Cuts Encana (ECA) Price Target to $18.50

Encana (NYSE:ECA) (TSE:ECA) had its price target dropped by equities researchers at National Bank Financial from $22.00 to $18.50 in a research report issued to clients and investors on Friday. The firm presently has an “outperform” rating on the oil and gas company’s stock. National Bank Financial’s price target would suggest a potential upside of 116.37% from the company’s previous close.

Other analysts have also issued research reports about the stock. Morgan Stanley set a $19.00 price target on shares of Encana and gave the company a “buy” rating in a research report on Friday, October 12th. BMO Capital Markets reaffirmed a “buy” rating and set a $18.00 price target on shares of Encana in a research report on Thursday, October 11th. Zacks Investment Research raised shares of Encana from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Friday, August 3rd. ValuEngine raised shares of Encana from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Finally, TD Securities set a $17.00 price target on shares of Encana and gave the company a “buy” rating in a research report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $15.36.

Shares of ECA stock traded down $0.41 during trading on Friday, hitting $8.55. 63,446,589 shares of the stock traded hands, compared to its average volume of 18,256,300. The firm has a market cap of $8.14 billion, a PE ratio of 12.95, a PEG ratio of 0.78 and a beta of 2.15. 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 has a 52-week low of $8.44 and a 52-week high of $14.31.

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, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.25 billion. Encana had a negative net margin of 3.98% and a positive return on equity of 9.46%. Equities research analysts predict that Encana will post 0.7 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its holdings in Encana by 15.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 34,320 shares of the oil and gas company’s stock valued at $449,000 after purchasing an additional 4,535 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Encana by 274.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,002 shares of the oil and gas company’s stock worth $213,000 after acquiring an additional 6,600 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Encana by 37.2% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 26,310 shares of the oil and gas company’s stock worth $343,000 after acquiring an additional 7,140 shares in the last quarter. Andra AP fonden grew its stake in shares of Encana by 4.1% in the third quarter. Andra AP fonden now owns 184,700 shares of the oil and gas company’s stock worth $3,127,000 after acquiring an additional 7,200 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in shares of Encana by 15.8% in the second quarter. IFP Advisors Inc now owns 56,491 shares of the oil and gas company’s stock worth $737,000 after acquiring an additional 7,726 shares in the last quarter. Hedge funds and other institutional investors own 67.32% of the company’s stock.

Encana Company Profile

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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