Stock of the Day: Is Encana Corp (USA) a Buy? The Stock Reaches 52-Week High Today

Stock of the Day: Is Encana Corp (USA) a Buy? The Stock Reaches 52 Week High Today

The stock of Encana Corp (USA) (NYSE:ECA) hit a new 52-week high and has $13.65 target or 6.00% above today’s $12.88 share price. The 7 months bullish chart indicates low risk for the $13.92B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $13.65 price target is reached, the company will be worth $835.20M 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 3.04 million shares traded hands. Encana Corp (USA) (NYSE:ECA) has risen 65.14% since April 28, 2016 and is uptrending. It has outperformed by 59.21% 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 $32.40M for 107.25 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 (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 -14.91% below today’s ($12.88) stock price. Encana Corporation has been the topic of 59 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Encana Corp (USA) (NYSE:ECA) has “Equalweight” rating given on Thursday, July 14 by Barclays Capital. The rating was upgraded by FirstEnergy Capital on Tuesday, July 28 to “Outperform”. The firm earned “Market Perform” rating on Tuesday, October 13 by FirstEnergy Capital. The firm has “Market Perform” rating given on Tuesday, December 22 by BMO Capital Markets. The firm has “Sector Perform” rating by RBC Capital Markets given on Monday, July 27. Barclays Capital upgraded Encana Corp (USA) (NYSE:ECA) on Tuesday, October 11 to “Overweight” rating. UBS maintained the shares of ECA in a report on Thursday, October 6 with “Neutral” rating. As per Friday, October 7, the company rating was downgraded by Societe Generale. Deutsche Bank maintained Encana Corp (USA) (NYSE:ECA) rating on Tuesday, June 14. Deutsche Bank has “Buy” rating and $11 price target. The rating was downgraded by Scotia Capital on Tuesday, September 20 to “Underperform”.

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

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: “Cameco Corporation vs. Encana Corp.: Which Is a Better Bet Today?”, Fool.ca published: “Royal Bank of Canada Upgrades Encana Corp.: Time to Buy?” on November 16, 2016. More interesting news about Encana Corp (USA) (NYSE:ECA) was released by: Fool.ca and their article: “Encana Corp.: Should You Buy the Dip?” with publication date: October 31, 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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