Encana (NYSE:ECA) (TSE:ECA) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Monday, Marketbeat Ratings reports. They currently have a $15.00 target price on the oil and gas company’s stock. Morgan Stanley’s target price would suggest a potential upside of 72.22% from the company’s current price.
ECA has been the topic of several other reports. Jefferies Financial Group set a $14.00 price objective on Encana and gave the company a “buy” rating in a research report on Friday, November 2nd. Raymond James downgraded Encana from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $18.00 to $17.00 in a report on Friday, November 2nd. ValuEngine downgraded Encana from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Zacks Investment Research raised Encana from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Wednesday, July 18th. Finally, CIBC downgraded Encana from a “neutral” rating to a “sector underperform” rating in a report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $15.14.
Encana stock opened at $8.71 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.73 and a current ratio of 0.73. Encana has a one year low of $8.44 and a one year high of $14.31. The firm has a market cap of $8.14 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 0.78 and a beta of 2.15.
Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. Encana had a positive return on equity of 9.46% and a negative net margin of 3.98%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.25 billion. As a group, equities analysts anticipate that Encana will post 0.7 EPS for the current fiscal year.
In related news, CEO Douglas James Suttles acquired 50,000 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were purchased at an average price of $8.83 per share, with a total value of $441,500.00. Following the completion of the purchase, the chief executive officer now directly owns 134,212 shares of the company’s stock, valued at $1,185,091.96. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Howard John Mayson acquired 10,000 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was bought at an average cost of $8.74 per share, for a total transaction of $87,400.00. Following the purchase, the director now directly owns 35,104 shares of the company’s stock, valued at $306,808.96. The disclosure for this purchase can be found here. Insiders bought 72,405 shares of company stock worth $640,902 in the last ninety days. Corporate insiders own 0.09% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Morgan Stanley raised its stake in shares of Encana by 34.2% in the second quarter. Morgan Stanley now owns 19,464,355 shares of the oil and gas company’s stock worth $254,011,000 after buying an additional 4,962,470 shares during the period. Putnam Investments LLC raised its stake in shares of Encana by 4.8% in the second quarter. Putnam Investments LLC now owns 967,998 shares of the oil and gas company’s stock worth $12,633,000 after buying an additional 44,670 shares during the period. Tuttle Tactical Management raised its stake in shares of Encana by 434.6% in the second quarter. Tuttle Tactical Management now owns 79,120 shares of the oil and gas company’s stock worth $1,032,000 after buying an additional 64,320 shares during the period. Precocity Capital LP raised its stake in shares of Encana by 158.3% in the second quarter. Precocity Capital LP now owns 1,550,000 shares of the oil and gas company’s stock worth $20,228,000 after buying an additional 950,000 shares during the period. Finally, Guggenheim Capital LLC raised its stake in shares of Encana by 25.7% in the first quarter. Guggenheim Capital LLC now owns 47,981 shares of the oil and gas company’s stock worth $528,000 after buying an additional 9,810 shares during the period. 67.17% of the stock is currently owned by hedge funds and other institutional investors.
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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