Encana Corporation (ECA) PT Raised to $15.00 at Credit Suisse Group
Encana Corporation (NYSE:ECA) (TSE:ECA) had its price objective lifted by Credit Suisse Group from $14.00 to $15.00 in a research note issued on Thursday. The firm currently has an “outperform” rating on the oil and gas company’s stock. Credit Suisse Group’s price target indicates a potential upside of 31.81% from the stock’s previous close.
A number of other research firms also recently issued reports on ECA. GMP Securities restated a “buy” rating and issued a $16.00 target price on shares of Encana Corporation in a report on Friday, September 29th. TD Securities reaffirmed a “buy” rating and set a $12.50 price target on shares of Encana Corporation in a research report on Sunday, October 1st. Macquarie raised shares of Encana Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $10.00 to $14.50 in a research report on Thursday, September 28th. Morgan Stanley lifted their price target on shares of Encana Corporation from $11.50 to $14.00 and gave the company an “equal weight” rating in a research report on Friday, October 13th. Finally, Barclays PLC lifted their price target on shares of Encana Corporation from $9.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. 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 stock. The company currently has an average rating of “Buy” and a consensus target price of $14.11.
Encana Corporation (ECA) opened at 11.38 on Thursday. The stock has a 50 day moving average of $10.93 and a 200 day moving average of $10.21. The firm has a market capitalization of $11.07 billion, a price-to-earnings ratio of 13.56 and a beta of 2.12. Encana Corporation has a one year low of $8.01 and a one year high of $13.85.
Encana Corporation (NYSE:ECA) (TSE:ECA) last released its earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.15. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $773.19 million. During the same period in the previous year, the firm earned $0.10 earnings per share. Analysts forecast that Encana Corporation will post $0.50 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Shell Asset Management Co. raised its holdings in Encana Corporation by 113.6% in the third quarter. Shell Asset Management Co. now owns 202,798 shares of the oil and gas company’s stock valued at $4,800,000 after acquiring an additional 107,851 shares in the last quarter. Eqis Capital Management Inc. raised its holdings in Encana Corporation by 13.0% in the third quarter. Eqis Capital Management Inc. now owns 50,847 shares of the oil and gas company’s stock valued at $599,000 after acquiring an additional 5,869 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Encana Corporation in the second quarter valued at $280,000. Raymond James Financial Services Advisors Inc. raised its holdings in Encana Corporation by 7.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 107,286 shares of the oil and gas company’s stock valued at $944,000 after acquiring an additional 7,358 shares in the last quarter. Finally, Steadfast Capital Management LP raised its holdings in Encana Corporation by 5.0% in the second quarter. Steadfast Capital Management LP now owns 20,963,596 shares of the oil and gas company’s stock valued at $184,480,000 after acquiring an additional 989,023 shares in the last quarter. 66.76% of the stock is currently owned by hedge funds and other institutional investors.
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.
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