Encana (ECA) Shares Gap Up to $10.86

Encana Corp (NYSE:ECA) (TSE:ECA)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $11.08, but opened at $10.86. Encana shares last traded at $10.65, with a volume of 4603830 shares.

ECA has been the subject of a number of research reports. Zacks Investment Research cut Encana from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Raymond James Financial upped their price objective on Encana from $15.00 to $16.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 19th. National Bank Financial upped their price objective on Encana from $14.50 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. AltaCorp Capital upgraded Encana from a “sector perform” rating to an “outperform” rating in a report on Wednesday, February 7th. Finally, Barclays upped their price objective on Encana from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $15.39.

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.61 and a current ratio of 1.61. The company has a market capitalization of $10,960.00, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 1.47 and a beta of 2.07.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC lifted its stake in shares of Encana by 62.5% in the 4th quarter. LPL Financial LLC now owns 132,653 shares of the oil and gas company’s stock valued at $1,768,000 after acquiring an additional 51,010 shares during the last quarter. Hartree Partners LP lifted its stake in shares of Encana by 25.0% in the 4th quarter. Hartree Partners LP now owns 143,750 shares of the oil and gas company’s stock valued at $1,916,000 after acquiring an additional 28,750 shares during the last quarter. Cider Mill Investments LP bought a new position in Encana during the 4th quarter valued at approximately $4,418,000. Two Sigma Advisers LP raised its position in Encana by 53.9% during the 4th quarter. Two Sigma Advisers LP now owns 595,832 shares of the oil and gas company’s stock valued at $7,969,000 after purchasing an additional 208,800 shares during the last quarter. Finally, Goldentree Asset Management LP raised its position in Encana by 103.9% during the 4th quarter. Goldentree Asset Management LP now owns 5,627,305 shares of the oil and gas company’s stock valued at $75,012,000 after purchasing an additional 2,868,070 shares during the last quarter. 68.34% of the stock is 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.

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