Stock On Watch: Will Encana Corp (USA) Run Out of Steam Soon?

Stock On Watch: Will Encana Corp (USA) Run Out of Steam Soon?

The stock of Encana Corp (USA) (NYSE:ECA) hit a new 52-week high and has $16.57 target or 55.00% above today’s $10.69 share price. The 8 months bullish chart indicates low risk for the $10.58B company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $16.57 price target is reached, the company will be worth $5.82 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 8.97M shares traded hands. Encana Corp (USA) (NYSE:ECA) has risen 144.06% since February 29, 2016 and is uptrending. It has outperformed by 131.84% the S&P500.

Analysts await Encana Corp (USA) (NYSE:ECA) to report earnings on November, 10. They expect $-0.02 EPS, up 33.33% or $0.01 from last year’s $-0.03 per share. After $0.10 actual EPS reported by Encana Corp (USA) for the previous quarter, Wall Street now forecasts -120.00% negative EPS growth.

Encana Corp (USA) (NYSE:ECA) Ratings Coverage

Out of 16 analysts covering Encana Corporation (NYSE:ECA), 5 rate it a “Buy”, 3 “Sell”, while 8 “Hold”. This means 31% are positive. Encana Corporation has been the topic of 47 analyst reports since July 21, 2015 according to StockzIntelligence Inc. BMO Capital Markets maintained Encana Corp (USA) (NYSE:ECA) rating on Saturday, September 5. BMO Capital Markets has “Buy” rating and $10 price target. Evercore downgraded the stock to “Hold” rating in Friday, April 15 report. The firm has “Hold” rating given on Tuesday, December 1 by Jefferies. The firm has “Buy” rating given on Monday, November 23 by Evercore. As per Thursday, April 7, the company rating was maintained by Citigroup. As per Friday, September 11, the company rating was upgraded by Goldman Sachs. The stock of Encana Corp (USA) (NYSE:ECA) has “Underperform” rating given on Thursday, February 25 by IBC. FirstEnergy Capital downgraded Encana Corp (USA) (NYSE:ECA) on Tuesday, October 13 to “Market Perform” rating. The firm has “Hold” rating by KLR Group given on Monday, August 29. The firm earned “Neutral” rating on Tuesday, January 26 by UBS.

According to Zacks Investment Research, “EnCana Corporation is one of the world’s largest independent natural gas producers and gas storage operators.”

More notable recent Encana Corp (USA) (NYSE:ECA) news were published by: Fool.ca which released: “Should Suncor Energy Inc. or Encana Corp. Be Your Next Oil Bet?” on September 29, 2016, also Fool.ca with their article: “Cameco Corporation vs. Encana Corp.: Which Is a Better Bet Today?” published on September 01, 2016, Fool.ca published: “Energy Investors: Encana Corporation or Enerplus Corp.?” on May 05, 2016. More interesting news about Encana Corp (USA) (NYSE:ECA) were released by: Fool.ca and their article: “Should You Own Encana Corporation or Baytex Energy Corp.?” published on August 19, 2016 as well as Fool.ca‘s news article titled: “Encana Corporation Hits $10: Time to Double Down?” with publication date: July 11, 2016.

ECA Company Profile

Encana Corporation, incorporated on January 1, 2006, is an energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). The Company’s activities also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America. The Firm operates through three divisions: Canadian Operations, USA Operations and Market optimization.

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