Encana (NYSE:ECA) (TSE:ECA) had its price target lifted by equities researchers at National Bank Financial from $14.50 to $18.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. National Bank Financial’s target price indicates a potential upside of 28.76% from the company’s current price.
ECA has been the topic of a number of other research reports. Scotiabank upped their target price on Encana from $12.00 to $13.00 and gave the company a “sector perform” rating in a research note on Thursday, October 19th. GMP Securities reaffirmed a “buy” rating and issued a $16.00 target price on shares of Encana in a research note on Friday, September 29th. Sanford C. Bernstein raised Encana from a “market perform” rating to an “outperform” rating and upped their target price for the company from $10.00 to $14.00 in a research note on Friday, September 15th. Zacks Investment Research raised Encana from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Tuesday, October 17th. Finally, BMO Capital Markets set a $14.00 target price on Encana and gave the company a “buy” rating in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $14.91.
Encana (NYSE:ECA) traded down $0.06 during mid-day trading on Tuesday, reaching $13.98. The company had a trading volume of 8,999,100 shares, compared to its average volume of 8,340,000. Encana has a 12-month low of $8.01 and a 12-month high of $14.31. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.60. The stock has a market cap of $13,610.00, a price-to-earnings ratio of 17.48 and a beta of 2.15.
Several institutional investors have recently modified their holdings of the business. Sawyer & Company Inc purchased a new position in shares of Encana during the 4th quarter worth $682,000. Nexus Investment Management Inc. lifted its stake in shares of Encana by 13.6% during the 4th quarter. Nexus Investment Management Inc. now owns 745,469 shares of the oil and gas company’s stock worth $9,987,000 after purchasing an additional 89,075 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Encana by 30.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,273,627 shares of the oil and gas company’s stock worth $15,003,000 after purchasing an additional 293,546 shares during the period. Cetera Advisor Networks LLC lifted its stake in shares of Encana by 28.9% during the 3rd quarter. Cetera Advisor Networks LLC now owns 32,957 shares of the oil and gas company’s stock worth $391,000 after purchasing an additional 7,397 shares during the period. Finally, Independent Advisor Alliance purchased a new position in shares of Encana during the 3rd quarter worth $322,000. 68.94% of the stock is currently owned by institutional investors.
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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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