Encana (NYSE:ECA) (TSE:ECA)‘s stock had its “buy” rating reaffirmed by equities research analysts at GMP Securities in a research report issued to clients and investors on Thursday.

Several other research analysts have also issued reports on the company. Zacks Investment Research reaffirmed a “hold” rating on shares of Encana in a research report on Tuesday. Canaccord Genuity reaffirmed an “average” rating on shares of Encana in a research report on Wednesday, November 7th. AltaCorp Capital lowered Encana from an “outperform” rating to a “sector perform” rating in a research report on Friday, November 2nd. Wolfe Research lowered Encana from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 5th. Finally, Morgan Stanley lowered Encana from an “overweight” rating to an “equal weight” rating and set a $15.00 target price for the company. in a research report on Monday, November 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $15.14.

NYSE:ECA remained flat at $$7.77 during trading hours on Thursday. The company had a trading volume of 42,948,746 shares, compared to its average volume of 11,107,684. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 0.85 and a beta of 2.15. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.70 and a current ratio of 0.70. Encana has a twelve month low of $7.61 and a twelve month high of $14.31.

Encana (NYSE:ECA) (TSE:ECA) last announced its earnings results on Thursday, November 1st. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.25 billion. Encana had a positive return on equity of 9.53% and a negative net margin of 3.98%. On average, equities analysts anticipate that Encana will post 0.63 earnings per share for the current fiscal year.

In other news, Director Bruce Gordon Waterman bought 25,000 shares of Encana stock in a transaction dated Tuesday, November 13th. The stock was bought at an average cost of $8.12 per share, for a total transaction of $203,000.00. Following the purchase, the director now directly owns 200,000 shares in the company, valued at approximately $1,624,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Glen Hill bought 10,000 shares of Encana stock in a transaction dated Thursday, November 15th. The stock was purchased at an average price of $7.72 per share, with a total value of $77,200.00. Following the completion of the purchase, the executive vice president now owns 33,118 shares in the company, valued at $255,670.96. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 230,655 shares of company stock valued at $2,001,214. Company insiders own 0.09% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Riverhead Capital Management LLC grew its stake in shares of Encana by 421.1% in the 3rd quarter. Riverhead Capital Management LLC now owns 8,338 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 6,738 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in Encana by 274.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,002 shares of the oil and gas company’s stock valued at $213,000 after purchasing an additional 6,600 shares during the last quarter. Advisor Partners LLC acquired a new position in Encana during the 2nd quarter valued at about $134,000. Fox Run Management L.L.C. acquired a new position in Encana during the 3rd quarter valued at about $196,000. Finally, Edgestream Partners L.P. acquired a new position in Encana during the 2nd quarter valued at about $209,000. Institutional investors own 67.25% of the company’s stock.

Encana Company Profile

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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Analyst Recommendations for Encana (NYSE:ECA)

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