Encana (ECA) PT Raised to $15.00

Encana (NYSE:ECA) (TSE:ECA) had its target price hoisted by equities research analysts at TD Securities from $14.50 to $15.00 in a note issued to investors on Thursday, November 9th. The brokerage currently has a “buy” rating on the oil and gas company’s stock. TD Securities’ target price suggests a potential upside of 31.23% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Raymond James Financial raised their price target on shares of Encana from $14.00 to $15.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 24th. BidaskClub cut shares of Encana from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Zacks Investment Research raised shares of Encana from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Thursday, July 27th. Desjardins reaffirmed a “hold” rating and set a $13.50 price objective on shares of Encana in a report on Tuesday, July 25th. Finally, Citigroup lowered their price target on shares of Encana from $14.00 to $13.00 and set a “buy” rating for the company in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company’s stock. Encana currently has a consensus rating of “Buy” and an average price target of $14.43.

Encana (ECA) opened at $11.43 on Thursday. The company has a market cap of $11,521.67, a PE ratio of 29.60, a price-to-earnings-growth ratio of 3.43 and a beta of 2.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.61 and a current ratio of 1.61. Encana has a one year low of $8.01 and a one year high of $13.85.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its position in Encana by 7.4% in the 2nd 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. Korea Investment CORP lifted its position in Encana by 39.9% in the 3rd quarter. Korea Investment CORP now owns 560,121 shares of the oil and gas company’s stock valued at $6,579,000 after acquiring an additional 159,720 shares in the last quarter. Northern Trust Corp lifted its position in Encana by 7.8% in the 2nd quarter. Northern Trust Corp now owns 2,231,713 shares of the oil and gas company’s stock valued at $19,639,000 after acquiring an additional 162,225 shares in the last quarter. Capital Fund Management S.A. lifted its position in Encana by 103.1% in the 2nd quarter. Capital Fund Management S.A. now owns 563,668 shares of the oil and gas company’s stock valued at $4,960,000 after acquiring an additional 286,089 shares in the last quarter. Finally, Shell Asset Management Co. lifted its position in Encana by 113.6% in the 3rd 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. 68.99% of the stock is currently owned by institutional investors.

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Encana 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 (NYSE:ECA)

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