Morgan Stanley set a $19.00 price target on Encana (NYSE:ECA) (TSE:ECA) in a research note published on Friday. The brokerage currently has a buy rating on the oil and gas company’s stock.

Other analysts also recently issued reports about the stock. National Bank Financial increased their price objective on shares of Encana from $18.00 to $22.00 and gave the company a $12.96 rating in a research report on Wednesday, July 18th. Zacks Investment Research raised shares of Encana from a hold rating to a buy rating and set a $16.00 price objective on the stock in a research report on Friday, August 3rd. Bank of America assumed coverage on shares of Encana in a report on Tuesday, September 18th. They set a buy rating and a $19.00 price target on the stock. ValuEngine raised shares of Encana from a hold rating to a buy rating in a report on Wednesday, June 27th. Finally, Canaccord Genuity reaffirmed a buy rating and set a $19.00 price target on shares of Encana in a report on Thursday, July 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $16.30.

ECA stock traded down $0.04 during trading on Friday, hitting $11.29. 15,512,828 shares of the stock traded hands, compared to its average volume of 8,882,944. Encana has a 1 year low of $9.79 and a 1 year high of $14.31. The company has a market capitalization of $12.51 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 1.26 and a beta of 2.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.73 and a current ratio of 0.73.

Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.09. Encana had a net margin of 1.49% and a return on equity of 7.30%. The company had revenue of $983.00 million for the quarter, compared to the consensus estimate of $1.14 billion. As a group, research analysts predict that Encana will post 0.69 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend was Thursday, September 13th. This is an increase from Encana’s previous quarterly dividend of $0.02. Encana’s dividend payout ratio (DPR) is presently 13.95%.

Several large investors have recently modified their holdings of the company. FMR LLC lifted its stake in shares of Encana by 70.2% in the 2nd quarter. FMR LLC now owns 41,979,114 shares of the oil and gas company’s stock worth $548,226,000 after purchasing an additional 17,318,112 shares during the period. Morgan Stanley lifted its stake in shares of Encana by 34.2% in the 2nd quarter. Morgan Stanley now owns 19,464,355 shares of the oil and gas company’s stock worth $254,011,000 after purchasing an additional 4,962,470 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Encana by 37.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,307,169 shares of the oil and gas company’s stock worth $186,745,000 after purchasing an additional 3,900,950 shares during the period. CIBC World Markets Inc. lifted its stake in shares of Encana by 3.0% in the 1st quarter. CIBC World Markets Inc. now owns 11,341,531 shares of the oil and gas company’s stock worth $124,757,000 after purchasing an additional 326,637 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Encana by 140.6% in the 1st quarter. Millennium Management LLC now owns 10,003,511 shares of the oil and gas company’s stock worth $110,039,000 after purchasing an additional 5,846,286 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Encana Company Profile

Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company holds interests in various assets, including the Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.

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Analyst Recommendations for Encana (NYSE:ECA)

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