Encana Corporation (NYSE:ECA) Stock Upgrade
In an interesting research report shared with investors on 4 December, First Energy announced that they have decided to upgrade Encana Corporation (NYSE:ECA) shares to a Outperform.
From a total of 25 analysts covering Encana Corporation (NYSE:ECA) stock, 12 rate it a ”Buy”, 1 a “Sell”, and 13 a ”Hold”. This means that 46% of the ratings are positive. The highest target price is $20 while the lowest target price is $8. The mean of all analyst targets is $11.25 with a 41.36% above today’s ($7.23) stock price. Encana Corporation was the topic of 22 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Jefferies reinitiated shares on December 1 with “Hold” rating. Barclays Capital maintained shares with “Equal-Weight” rating and $8 target share price in a report from a September 8. Deutsche Bank maintained ECA stock in a recent report from November 13 with “” rating. FirstEnergy Capital upgraded the rating on July 28. FirstEnergy Capital has a “Outperform” rating and a $11.50 price target on shares. Finally, Citigroup maintained the stock with “Neutral” rating in a report issued on a September 14.
The stock decreased 4.62% or $0.35 on December 4, striking $7.23. Approximately shares of stock traded hands. Encana Corporation (USA) (NYSE:ECA) has declined 49.65% since May 4, 2015 and is downtrending. It has underperformed by 48.57% the S&P500.
Encana Corporation is engaged in the business of the exploration, development, production and marketing of natural gas, oil and natural gas liquids . The company has a market cap of $6.11 billion. The Firm operates through three business divisions: Canadian Operations, which includes the exploration for, development of, and production of natural gas oil and NGLs and other related activities within Canada; USA Operations, which includes the exploration for, development of, and production of natural gas oil and NGLs and other related activities within the United States and Market Optimization, which includes third-party purchases and sales of products that provide operational flexibility for transportation commitments, product type, delivery points and customer diversification. It currently has negative earnings. Market Optimization sells all of the Company’s upstream production to third-party customers.
According to Zacks Investment Research, “EnCana Corporation is one of the world’s largest independent natural gas producers and gas storage operators.” Get a free copy of the Zacks research report on Encana Corporation (USA) (ECA).