Encana Corporation (NYSE:ECA) (TSE:ECA) has been given a $12.00 price objective by equities researchers at Canaccord Genuity in a research note issued on Thursday. The firm currently has a “buy” rating on the oil and gas company’s stock. Canaccord Genuity’s price target indicates a potential upside of 30.58% from the company’s previous close.

Several other research analysts have also recently commented on ECA. Desjardins set a $13.00 price target on Encana Corporation and gave the company a “hold” rating in a research report on Thursday, April 20th. Barclays PLC reissued an “overweight” rating and set a $12.00 price target (down from $15.00) on shares of Encana Corporation in a research report on Saturday, April 22nd. TD Securities set a $12.50 price target on Encana Corporation and gave the company a “hold” rating in a research report on Wednesday, May 3rd. Scotiabank increased their price target on Encana Corporation from $11.00 to $12.00 and gave the company an “underperform” rating in a research report on Wednesday, May 3rd. Finally, BMO Capital Markets set a $13.00 price target on Encana Corporation and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. Encana Corporation presently has an average rating of “Buy” and an average target price of $13.29.

Shares of Encana Corporation (ECA) opened at 9.19 on Thursday. Encana Corporation has a 12-month low of $8.01 and a 12-month high of $13.85. The company has a 50-day moving average price of $9.46 and a 200 day moving average price of $10.55. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 10.95 and a beta of 2.04.

Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.18 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $773.19 million. During the same period in the prior year, the firm posted $0.10 earnings per share. Equities research analysts expect that Encana Corporation will post $0.51 earnings per share for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of the company. Stevens Capital Management LP bought a new position in Encana Corporation during the second quarter worth approximately $102,000. Gotham Asset Management LLC bought a new position in Encana Corporation during the second quarter worth approximately $109,000. Atria Investments LLC bought a new position in Encana Corporation during the second quarter worth approximately $113,000. Equity Investment Corp Acquisition Inc raised its position in Encana Corporation by 5.4% in the second quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock worth $114,000 after buying an additional 666 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new position in Encana Corporation during the second quarter worth approximately $118,000. Hedge funds and other institutional investors own 73.08% of the company’s stock.

Encana Corporation Company Profile

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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