Notable Runner: Will Encana Corp (USA) Run Out of Steam Soon?

Notable Runner: 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 $18.57 target or 53.00% above today’s $12.14 share price. The 7 months bullish chart indicates low risk for the $13.16 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $18.57 price target is reached, the company will be worth $6.97B 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 2.36M shares traded hands. Encana Corp (USA) (NYSE:ECA) has risen 64.97% since April 19, 2016 and is uptrending. It has outperformed by 61.11% the S&P500.

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

Out of 20 analysts covering Encana Corporation (NYSE:ECA), 12 rate it a “Buy”, 3 “Sell”, while 5 “Hold”. This means 60% are positive. Encana Corporation has been the topic of 58 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Encana Corp (USA) (NYSE:ECA) earned “Buy” rating by Deutsche Bank on Thursday, October 6. The stock has “Neutral” rating given by UBS on Tuesday, January 26. RBC Capital Markets maintained Encana Corp (USA) (NYSE:ECA) rating on Thursday, February 25. RBC Capital Markets has “Sector Perform” rating and $8 price target. Deutsche Bank maintained the stock with “Buy” rating in Tuesday, June 14 report. Jefferies upgraded the shares of ECA in a report on Tuesday, December 15 to “Buy” rating. On Thursday, October 6 the stock rating was upgraded by GMP Securities to “Buy”. FirstEnergy Capital upgraded the shares of ECA in a report on Tuesday, July 28 to “Outperform” rating. The firm earned “Buy” rating on Wednesday, December 9 by Deutsche Bank. The firm has “Buy” rating by Citigroup given on Friday, September 30. The stock has “Buy” rating given by KLR Group on Monday, November 7.

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: “Royal Bank of Canada Upgrades Encana Corp.: Time to Buy?” on November 16, 2016, also Fool.ca with their article: “Should You Buy Encana Corp. or Crescent Point Energy Corp.?” published on October 20, 2016, Fool.ca published: “Encana Corp. Is up Over 200%: This Is Just the Beginning” on October 26, 2016. More interesting news about Encana Corp (USA) (NYSE:ECA) were released by: Fool.ca and their article: “Cameco Corporation vs. Encana Corp.: Which Is a Better Bet Today?” published on September 01, 2016 as well as Fool.ca‘s news article titled: “Encana Corp. Just Posted a Surprise Profit: What Now?” with publication date: November 03, 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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