Important Rating: Is KLR Group Very Negative For Encana (NYSE:ECA) After Its Downgrade?

November 28, 2016 - By Michael Collier

Important Rating: Is KLR Group Very Negative For Encana (NYSE:ECA) After Its Downgrade?

Encana (NYSE:ECA) Downgrade

KLR Group cut the shares of Encana (NYSE:ECA) from a “Buy” rating to a “Accumulate” rating in a analysts note issued to clients on Monday, 28 November.

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. $15 is the highest target while $5.50 is the lowest. The $10.96 average target is -7.98% below today’s ($11.91) stock price. Encana Corporation has been the topic of 58 analyst reports since July 21, 2015 according to StockzIntelligence Inc. UBS downgraded Encana Corp (USA) (NYSE:ECA) on Tuesday, January 26 to “Neutral” rating. The rating was reinitiated by Jefferies with “Hold” on Tuesday, December 1. On Thursday, October 6 the stock rating was maintained by Jefferies with “Buy”. On Wednesday, January 6 the stock rating was maintained by Barclays Capital with “Equal-Weight”. The stock of Encana Corp (USA) (NYSE:ECA) has “Neutral” rating given on Monday, September 14 by Citigroup. The rating was maintained by Barclays Capital on Thursday, July 14 with “Equalweight”. Citigroup maintained it with “Neutral” rating and $7 target price in Thursday, April 7 report. FirstEnergy Capital upgraded the stock to “Outperform” rating in Friday, December 4 report. BMO Capital Markets maintained Encana Corp (USA) (NYSE:ECA) rating on Saturday, September 5. BMO Capital Markets has “Buy” rating and $10 price target. As per Thursday, February 25, the company rating was downgraded by IBC.

About 3.79 million shares traded hands. Encana Corp (USA) (NYSE:ECA) has risen 70.79% since April 25, 2016 and is uptrending. It has outperformed by 64.77% the S&P500.

Analysts await Encana Corp (USA) (NYSE:ECA) to report earnings on February, 22. They expect $0.03 EPS, down 76.92% or $0.10 from last year’s $0.13 per share. ECA’s profit will be $28.49M for 99.25 P/E if the $0.03 EPS becomes a reality. After $0.04 actual EPS reported by Encana Corp (USA) for the previous quarter, Wall Street now forecasts -25.00% negative EPS growth.

Encana Corp is a Canada-based energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids . The company has a market cap of $11.31 billion. The Company’s activities also include the marketing of natural gas, oil and NGLs. It currently has negative earnings. All of its reserves and production are located in North America.

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

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.

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

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