Bernstein May Have Gained Confidence in Encana Corporation ECA (NYSE:ECA), Upgrades Stock

September 17, 2017 - By Hazel Jackson

  Bernstein May Have Gained Confidence in Encana Corporation ECA (NYSE:ECA), Upgrades Stock

Encana Corporation ECA (NYSE:ECA) Stock Upgrade

Bernstein gave has just issued a new rating of Outperform on shares of Encana Corporation ECA (NYSE:ECA) in a research note shared with investors and clients earlier today, which is a upgrade from the last Mkt Perform rating for shares. The broker after the upgrade has a solid $14.00 target price on Encana Corporation ECA (NYSE:ECA), which suggests upside potential of around 34.10 %.

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

Among 28 analysts covering Encana Corporation (NYSE:ECA), 20 have Buy rating, 2 Sell and 6 Hold. Therefore 71% are positive. Encana Corporation has $16 highest and $5.50 lowest target. $11.63’s average target is 11.40% above currents $10.44 stock price. Encana Corporation had 91 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of Encana Corp (USA) (NYSE:ECA) has “Underperform” rating given on Thursday, June 23 by Macquarie Research. The stock of Encana Corp (USA) (NYSE:ECA) earned “Outperform” rating by FirstEnergy Capital on Friday, December 4. The firm has “Sector Perform” rating given on Monday, July 27 by RBC Capital Markets. The stock has “Neutral” rating by UBS on Thursday, October 6. As per Monday, May 29, the company rating was maintained by RBC Capital Markets. The firm has “Buy” rating given on Wednesday, June 28 by GMP Securities. On Wednesday, May 31 the stock rating was initiated by Raymond James with “Outperform”. RBC Capital Markets maintained Encana Corp (USA) (NYSE:ECA) on Thursday, February 25 with “Sector Perform” rating. The rating was maintained by Desjardins Securities with “Hold” on Thursday, July 20. maintained the stock with “Buy” rating in Monday, October 10 report.

It closed at $10.44 lastly. It is up 50.13% since September 17, 2016 and is uptrending. It has outperformed by 33.43% the S&P500.

Wall Street await Encana Corp (USA) (NYSE:ECA) to release earnings on November, 2. Analysts forecast EPS of $0.07, up exactly $0.03 or 75.00 % from 2014’s $0.04 EPS. The expected ECA’s profit could reach $67.99 million giving the stock 37.29 P/E in the case that $0.07 earnings per share is reported. After posting $0.18 EPS for the previous quarter, Encana Corp (USA)’s analysts now forecast -61.11 % negative EPS growth.

Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids producing plays. The company has market cap of $10.14 billion. The Company’s activities also include the marketing of natural gas, oil and NGLs. It has a 12.09 P/E ratio. All of its reserves and production are located in North America.

More important recent Encana Corp (USA) (NYSE:ECA) news were published by: Benzinga.com which released: “Encana Could Be On The Verge Of A 5-Year Long Growth Spurt” on September 15, 2017, also Fool.ca published article titled: “Is Another Rally on the Horizon for Encana Corp.?”, Fool.ca published: “Should Encana Corp. Be in Your Portfolio?” on July 25, 2017. More interesting news about Encana Corp (USA) (NYSE:ECA) was released by: Fool.ca and their article: “Encana Corp.: Is the Sell-Off Overdone?” with publication date: July 10, 2017.

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