Encana Corporation (NYSE:ECA) Rating Reaffirmed
The rating of Encana Corporation (NYSE:ECA) shares were has decided to reaffirm by expert analysts at Jefferies & Co. This was shown in a note on Tuesday morning.
From a total of 26 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 $11.17 with a 22.40% above today’s ($8.35) stock price. Encana Corporation was the topic of 21 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Evercore upgraded shares on November 23 to “Buy” rating. Barclays Capital maintained shares with “Equal-Weight” rating and $8 target share price in a report from a September 8. FirstEnergy Capital downgraded ECA stock in a recent report from October 13 to “Market Perform” rating. FirstEnergy Capital upgraded the rating on July 28. FirstEnergy Capital has a “Outperform” rating and a $11.50 price target on shares. Finally, Goldman Sachs upgraded the stock to “Buy” rating in a report issued on a September 11.
Approximately 2.43 million shares of stock traded hands. Encana Corporation (USA) (NYSE:ECA) has declined 40.51% since April 28, 2015 and is downtrending. It has underperformed by 38.89% 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 $6.91 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)