Brokerages Set Encana Corporation (ECA) PT at $13.68

Encana Corporation (NYSE:ECA) (TSE:ECA) has been given an average recommendation of “Buy” by the twenty-six ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $14.03.

A number of brokerages have commented on ECA. Citigroup Inc. boosted their target price on Encana Corporation from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley boosted their target price on Encana Corporation from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday. Raymond James Financial, Inc. upped their price target on Encana Corporation from $15.00 to $16.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Scotiabank upped their price target on Encana Corporation from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Thursday. Finally, Credit Suisse Group upped their price target on Encana Corporation from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Thursday.

Institutional investors have recently bought and sold shares of the business. Steadfast Capital Management LP raised its holdings in Encana Corporation by 12.2% in the 1st 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 acquiring an additional 2,164,300 shares in the last quarter. Vanguard Group Inc. raised its holdings in Encana Corporation by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 22,637,700 shares of the oil and gas company’s stock valued at $265,086,000 after acquiring an additional 994,074 shares in the last quarter. Capital Fund Management S.A. raised its holdings in Encana Corporation by 103.1% in the 2nd quarter. Capital Fund Management S.A. now owns 563,668 shares of the oil and gas company’s stock valued at $4,960,000 after acquiring an additional 286,089 shares in the last quarter. Parkwood LLC raised its holdings in Encana Corporation by 15.4% in the 2nd quarter. Parkwood LLC now owns 376,727 shares of the oil and gas company’s stock valued at $3,315,000 after acquiring an additional 50,376 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Encana Corporation by 15.4% in the 2nd quarter. BlackRock Inc. now owns 25,264,984 shares of the oil and gas company’s stock valued at $222,330,000 after acquiring an additional 3,368,871 shares in the last quarter. 66.76% of the stock is owned by hedge funds and other institutional investors.

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Encana Corporation (NYSE ECA) traded down 1.22% during trading on Thursday, hitting $11.38. The stock had a trading volume of 12,764,934 shares. Encana Corporation has a 1-year low of $8.01 and a 1-year high of $13.85. The firm has a market cap of $11.07 billion, a price-to-earnings ratio of 13.56 and a beta of 2.12. The firm’s 50 day moving average is $10.93 and its 200 day moving average is $10.21.

Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its earnings results on Friday, July 21st. The oil and gas company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.15. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $773.19 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, analysts anticipate that Encana Corporation will post $0.50 earnings per share for the current year.

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.

Analyst Recommendations for Encana Corporation (NYSE:ECA)

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