Encana (ECA) PT Set at $14.00 by Jefferies Financial Group

Encana (NYSE:ECA) (TSE:ECA) has been given a $14.00 price target by equities research analysts at Jefferies Financial Group in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the oil and gas company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 63.74% from the stock’s previous close. Jefferies Financial Group also issued estimates for Encana’s Q4 2018 earnings at $0.21 EPS and Q1 2019 earnings at $0.32 EPS.

ECA has been the topic of several other reports. National Bank Financial raised their price objective on Encana from $18.00 to $22.00 and gave the stock a “$12.96” rating in a research note on Wednesday, July 18th. Zacks Investment Research upgraded Encana from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Wednesday, July 18th. BMO Capital Markets restated a “buy” rating and set a $18.00 price objective on shares of Encana in a research note on Thursday, October 11th. Bank of America initiated coverage on Encana in a research note on Tuesday, September 18th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Canaccord Genuity restated a “buy” rating and set a $19.00 price objective on shares of Encana in a research note on Thursday, July 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $15.36.

Shares of ECA stock traded down $0.41 during mid-day trading on Friday, reaching $8.55. 63,446,589 shares of the company were exchanged, compared to its average volume of 18,256,300. Encana has a fifty-two week low of $8.44 and a fifty-two week high of $14.31. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $8.14 billion, a P/E ratio of 12.95, a PEG ratio of 0.78 and a beta of 2.15.

Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. Encana had a negative net margin of 3.98% and a positive return on equity of 9.46%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.25 billion. On average, research analysts predict that Encana will post 0.7 EPS for the current year.

A number of hedge funds have recently bought and sold shares of ECA. Clinton Group Inc. bought a new stake in Encana in the second quarter valued at $131,000. Advisor Partners LLC bought a new stake in Encana in the second quarter valued at $134,000. Suntrust Banks Inc. bought a new stake in Encana in the first quarter valued at $165,000. Fox Run Management L.L.C. bought a new stake in Encana in the third quarter valued at $196,000. Finally, Edgestream Partners L.P. bought a new stake in Encana in the second quarter valued at $209,000. Institutional investors own 67.32% of the company’s stock.

About Encana

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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