The stock of Encana Corp (USA) (NYSE:ECA) hit a new 52-week high and has $17.04 target or 47.00% above today’s $11.59 share price. The 9 months bullish chart indicates low risk for the $11.50B company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $17.04 price target is reached, the company will be worth $5.41 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 13.07 million shares traded hands. Encana Corp (USA) (NYSE:ECA) has risen 83.80% since March 16, 2016 and is uptrending. It has outperformed by 78.26% the S&P500.
Analysts await Encana Corp (USA) (NYSE:ECA) to report earnings on November, 10. They expect $-0.02 earnings per share, up 33.33% or $0.01 from last year’s $-0.03 per share. After $0.10 actual earnings per share 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 20 analysts covering Encana Corporation (NYSE:ECA), 10 rate it a “Buy”, 3 “Sell”, while 7 “Hold”. This means 50% are positive. Encana Corporation has been the topic of 56 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by Citigroup given on Thursday, April 7. The rating was downgraded by Evercore on Friday, April 15 to “Hold”. As per Monday, October 10, the company rating was maintained by . The rating was upgraded by FirstEnergy Capital on Tuesday, July 28 to “Outperform”. The stock of Encana Corp (USA) (NYSE:ECA) earned “Overweight” rating by Barclays Capital on Tuesday, October 11. The firm has “Sell” rating given on Friday, October 7 by Societe Generale. UBS downgraded the stock to “Neutral” rating in Tuesday, January 26 report. The rating was downgraded by IBC to “Underperform” on Thursday, February 25. On Monday, April 11 the stock rating was upgraded by BMO Capital Markets to “Outperform”. Deutsche Bank maintained Encana Corp (USA) (NYSE:ECA) rating on Thursday, October 6. Deutsche Bank has “Buy” rating and $15 price target.
According to Zacks Investment Research, “EnCana Corporation is one of the world’s largest independent natural gas producers and gas storage operators.”
More important recent Encana Corp (USA) (NYSE:ECA) news were published by: Fool.ca which released: “Wall Street Loves Encana Corp.’s New 5-Year Plan” on October 14, 2016, also Fool.ca published article titled: “Cameco Corporation vs. Encana Corp.: Which Is a Better Bet Today?”, Fool.ca published: “Should Suncor Energy Inc. or Encana Corp. Be Your Next Oil Bet?” on September 29, 2016. More interesting news about Encana Corp (USA) (NYSE:ECA) was released by: Fool.ca and their article: “Energy Investors: Encana Corporation or Enerplus Corp.?” with publication date: May 05, 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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