Rating Report: Will KLR Group Downgrade Harm Encana Corporation (NYSE:ECA) Stock Price Today?

November 28, 2016 - By Nellie Frank

Rating Report: Will KLR Group Downgrade Harm Encana Corporation (NYSE:ECA) Stock Price Today?

Encana Corporation (NYSE:ECA) Downgrade

In a an analyst note revealed today, KLR Group lowered shares of Encana Corporation (NYSE:ECA) to a “Accumulate” rating from a “Buy” rating.

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 -8.74% below today’s ($12.01) stock price. Encana Corporation has been the topic of 58 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was upgraded by Citigroup to “Buy” on Friday, September 30. The rating was maintained by Barclays Capital with “Equal-Weight” on Wednesday, January 6. The rating was downgraded by UBS on Tuesday, January 26 to “Neutral”. The firm earned “Equalweight” rating on Thursday, July 14 by Barclays Capital. The company was maintained on Thursday, October 6 by UBS. The rating was upgraded by Deutsche Bank to “Buy” on Wednesday, October 14. The rating was maintained by BMO Capital Markets on Saturday, September 5 with “Buy”. Barclays Capital upgraded it to “Overweight” rating and $14 target price in Tuesday, October 11 report. The stock of Encana Corp (USA) (NYSE:ECA) has “Outperform” rating given on Tuesday, July 28 by FirstEnergy Capital. maintained the stock with “Buy” rating in Monday, October 10 report.

About 6.97M 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 earnings per share, down 76.92% or $0.10 from last year’s $0.13 per share. ECA’s profit will be $28.48 million for 100.08 P/E if the $0.03 EPS becomes a reality. After $0.04 actual earnings per share 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 $11.40 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 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 the news titled: “Royal Bank of Canada Upgrades Encana Corp.: Time to Buy?” on November 16, 2016. Fool.ca‘s news article titled: “Cameco Corporation vs. Encana Corp.: Which Is a Better Bet Today?” with publication date: September 01, 2016 was also an interesting one.

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