Stock Rating: Is Encana Corp (NYSE:ECA) a Stock to Sell After KLR Group Downgrade?

November 28, 2016 - By Vivian Park

Stock Rating: Is Encana Corp (NYSE:ECA) a Stock to Sell After KLR Group Downgrade?

Encana Corp (NYSE:ECA) Downgrade

Encana Corp (NYSE:ECA)‘s stock was cut to a “Accumulate” by stock research analysts at KLR Group. ECA’s “Buy” rating is no longer valid.

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 -7.43% below today’s ($11.84) stock price. 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) has “Equal-Weight” rating given on Wednesday, January 6 by Barclays Capital. The stock of Encana Corp (USA) (NYSE:ECA) earned “Buy” rating by Deutsche Bank on Wednesday, December 9. The stock of Encana Corp (USA) (NYSE:ECA) has “Hold” rating given on Monday, August 29 by KLR Group. The rating was upgraded by FirstEnergy Capital on Friday, December 4 to “Outperform”. The stock has “Buy” rating given by Evercore on Monday, November 23. The firm has “Underperform” rating given on Thursday, February 25 by IBC. The company was upgraded on Friday, September 11 by Goldman Sachs. Deutsche Bank maintained Encana Corp (USA) (NYSE:ECA) rating on Thursday, January 21. Deutsche Bank has “Buy” rating and $6 price target. On Thursday, July 14 the stock rating was maintained by Barclays Capital with “Equalweight”. The firm has “Neutral” rating given on Thursday, October 6 by UBS.

About 7.99M 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 $28.51M for 98.75 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 $11.25 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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