Encana Corporation (ECA) Given New $14.00 Price Target at Morgan Stanley

Encana Corporation (NYSE:ECA) (TSE:ECA) had its target price hoisted by Morgan Stanley from $11.50 to $14.00 in a note issued to investors on Friday. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective suggests a potential upside of 22.48% from the stock’s previous close.

ECA has been the topic of a number of other research reports. Citigroup Inc. dropped their price objective on Encana Corporation from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. GMP Securities reiterated a “buy” rating and issued a $16.00 price target on shares of Encana Corporation in a research note on Friday, September 29th. Raymond James Financial, Inc. increased their price target on Encana Corporation from $14.00 to $15.00 and gave the company a “strong-buy” rating in a research note on Monday, July 24th. Macquarie cut Encana Corporation from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 21st. Finally, TD Securities increased their price target on Encana Corporation from $11.50 to $12.50 and gave the company a “buy” rating in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $13.64.

Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.15. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $773.19 million. During the same quarter last year, the company earned $0.10 earnings per share.

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A number of hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. raised its position in Encana Corporation by 0.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,898 shares of the oil and gas company’s stock valued at $233,000 after acquiring an additional 124 shares in the last quarter. Sentinel Trust Co. LBA raised its position in Encana Corporation by 0.3% during the second quarter. Sentinel Trust Co. LBA now owns 186,720 shares of the oil and gas company’s stock valued at $1,644,000 after acquiring an additional 490 shares in the last quarter. Wetherby Asset Management Inc. raised its position in Encana Corporation by 2.1% during the second quarter. Wetherby Asset Management Inc. now owns 24,141 shares of the oil and gas company’s stock valued at $212,000 after acquiring an additional 497 shares in the last quarter. Equity Investment Corp Acquisition Inc raised its position in Encana Corporation by 5.4% during the second quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock valued at $114,000 after acquiring an additional 666 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in Encana Corporation by 2.1% during the second quarter. D.A. Davidson & CO. now owns 45,097 shares of the oil and gas company’s stock valued at $396,000 after acquiring an additional 939 shares in the last quarter. Institutional investors own 66.76% of the company’s stock.

Encana Corporation 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 Corporation (NYSE:ECA)

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