Analysts at MKM Partners began coverage on shares of Encana (NYSE:ECA) (TSE:ECA) in a report issued on Wednesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $12.00 price target on the oil and gas company’s stock. MKM Partners’ price objective would suggest a potential upside of 85.47% from the company’s previous close.
A number of other research analysts have also recently weighed in on ECA. Bank of America initiated coverage on Encana in a research report on Tuesday, September 18th. They issued a “buy” rating and a $19.00 price target for the company. CIBC initiated coverage on Encana in a research report on Friday, October 5th. They issued a “neutral” rating for the company. BMO Capital Markets restated a “buy” rating and issued a $18.00 price target on shares of Encana in a research report on Thursday, October 11th. ValuEngine cut Encana from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Finally, Morgan Stanley set a $19.00 price target on Encana and gave the company a “buy” rating in a research report on Friday, October 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.81.
Shares of ECA stock opened at $6.47 on Wednesday. Encana has a fifty-two week low of $6.31 and a fifty-two week high of $14.31. The firm has a market capitalization of $6.43 billion, a PE ratio of 15.05, a PEG ratio of 0.39 and a beta of 2.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.70 and a quick ratio of 0.70.
Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Encana had a positive return on equity of 9.53% and a negative net margin of 3.98%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.25 billion. As a group, sell-side analysts anticipate that Encana will post 0.65 earnings per share for the current fiscal year.
In related news, CFO Sherri Anne Brillon acquired 17,250 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The stock was purchased at an average price of $8.85 per share, for a total transaction of $152,662.50. Following the transaction, the chief financial officer now owns 114,165 shares in the company, valued at approximately $1,010,360.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Clayton Harvey Woitas acquired 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were bought at an average price of $8.78 per share, with a total value of $878,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 243,655 shares of company stock valued at $2,089,214. 0.08% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of ECA. BNP Paribas Arbitrage SA increased its position in Encana by 22.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 73,212 shares of the oil and gas company’s stock worth $955,000 after purchasing an additional 13,480 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Encana in the 2nd quarter worth about $21,174,000. Aperio Group LLC boosted its stake in Encana by 20.7% in the 2nd quarter. Aperio Group LLC now owns 581,927 shares of the oil and gas company’s stock worth $7,594,000 after buying an additional 99,778 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Encana by 6.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,324,089 shares of the oil and gas company’s stock worth $43,419,000 after buying an additional 195,883 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Encana in the 2nd quarter worth about $901,000. Hedge funds and other institutional investors own 68.12% 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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