Encana (NYSE:ECA) Price Target Cut to $18.50

Encana (NYSE:ECA) (TSE:ECA) had its price objective dropped by investment analysts at National Bank Financial from $22.00 to $18.50 in a note issued to investors on Friday, November 2nd. The firm presently has an “outperform” rating on the oil and gas company’s stock. National Bank Financial’s target price points to a potential upside of 109.04% from the company’s current price.

Several other brokerages have also recently issued reports on ECA. BMO Capital Markets reaffirmed a “buy” rating and issued a $18.00 target price on shares of Encana in a report on Thursday, October 11th. Bank of America started coverage on shares of Encana in a report on Tuesday, September 18th. They issued a “buy” rating and a $19.00 target price for the company. CIBC started coverage on shares of Encana in a report on Friday, October 5th. They issued a “neutral” rating for the company. Morgan Stanley set a $19.00 target price on shares of Encana and gave the stock a “buy” rating in a report on Friday, October 12th. Finally, TD Securities set a $17.00 target price on shares of Encana and gave the stock a “buy” rating in a report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $15.14.

NYSE:ECA traded up $0.14 during mid-day trading on Friday, hitting $8.85. 31,628,890 shares of the company’s stock were exchanged, compared to its average volume of 24,764,914. Encana has a one year low of $8.43 and a one year high of $14.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.70 and a quick ratio of 0.73. The firm has a market capitalization of $8.36 billion, a P/E ratio of 20.58, a PEG ratio of 0.89 and a beta of 2.15.

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

In other Encana news, Director Howard John Mayson bought 10,000 shares of Encana stock in a transaction on Monday, November 5th. The stock was acquired at an average cost of $8.74 per share, with a total value of $87,400.00. Following the completion of the acquisition, the director now owns 35,104 shares in the company, valued at $306,808.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sherri Anne Brillon bought 17,250 shares of Encana stock in a transaction on Thursday, November 8th. The shares were acquired at an average cost of $8.85 per share, with a total value of $152,662.50. Following the completion of the acquisition, the chief financial officer now owns 114,165 shares of the company’s stock, valued at approximately $1,010,360.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 192,155 shares of company stock valued at $1,693,714. 0.08% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its position in shares of Encana by 15.2% in the second quarter. Tower Research Capital LLC TRC now owns 34,320 shares of the oil and gas company’s stock worth $449,000 after purchasing an additional 4,535 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Encana by 274.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,002 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 6,600 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Encana by 37.2% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 26,310 shares of the oil and gas company’s stock worth $343,000 after purchasing an additional 7,140 shares during the period. Andra AP fonden boosted its position in shares of Encana by 4.1% during the third quarter. Andra AP fonden now owns 184,700 shares of the oil and gas company’s stock worth $3,127,000 after acquiring an additional 7,200 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Encana by 15.8% during the second quarter. IFP Advisors Inc now owns 56,491 shares of the oil and gas company’s stock worth $737,000 after acquiring an additional 7,726 shares during the last quarter. Institutional investors and hedge funds own 67.17% of the company’s stock.

About Encana

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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