Encana Corp. (NYSE:ECA) (TSE:ECA) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday. They currently have a $12.02 target price on the stock. Vetr‘s price objective points to a potential upside of 6.94% from the company’s previous close.

A number of other brokerages have also recently weighed in on ECA. Nomura lifted their price objective on shares of Encana Corp. from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, September 12th. Deutsche Bank AG restated a “buy” rating and set a $13.00 price objective (down from $15.00) on shares of Encana Corp. in a research note on Thursday, September 29th. KLR Group upgraded shares of Encana Corp. from a “hold” rating to a “buy” rating and lifted their price objective for the company from $12.00 to $14.00 in a research note on Monday, November 7th. BMO Capital Markets restated a “buy” rating and set a $10.00 price objective on shares of Encana Corp. in a research note on Friday, July 22nd. Finally, Royal Bank Of Canada cut their price objective on shares of Encana Corp. from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Monday, September 12th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $12.74.

Analyst Recommendations for Encana Corp. (NYSE:ECA)

Shares of Encana Corp. (NYSE:ECA) opened at 11.24 on Tuesday. The firm’s 50 day moving average is $10.55 and its 200 day moving average is $8.93. Encana Corp. has a 1-year low of $3.00 and a 1-year high of $11.74. The firm’s market capitalization is $10.94 billion.

Encana Corp. (NYSE:ECA) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. Encana Corp. had a negative net margin of 40.77% and a positive return on equity of 1.79%. During the same quarter in the previous year, the company earned ($0.03) EPS. Analysts anticipate that Encana Corp. will post $0.02 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be paid a $0.015 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.53%. Encana Corp.’s payout ratio is -3.97%.

Several large investors have recently made changes to their positions in the stock. Credit Agricole S A boosted its stake in shares of Encana Corp. by 4.3% in the first quarter. Credit Agricole S A now owns 93,980 shares of the company’s stock valued at $573,000 after buying an additional 3,867 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Encana Corp. by 8.6% in the first quarter. UBS Asset Management Americas Inc. now owns 2,120,040 shares of the company’s stock valued at $12,982,000 after buying an additional 168,638 shares during the last quarter. AXA boosted its stake in shares of Encana Corp. by 14.3% in the first quarter. AXA now owns 32,273 shares of the company’s stock valued at $198,000 after buying an additional 4,040 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of Encana Corp. by 39.6% in the first quarter. Loomis Sayles & Co. L P now owns 21,274 shares of the company’s stock valued at $130,000 after buying an additional 6,036 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Encana Corp. during the first quarter valued at approximately $14,564,000. 56.30% of the stock is owned by institutional investors and hedge funds.

About Encana Corp.

Encana Corp is a Canada-based energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). 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.

5 Day Chart for NYSE:ECA

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