Economy

Are Encana (NYSE:ECA) Shares Headed North? Morgan Stanley Issues Upgrade

Are Encana (NYSE:ECA) Shares Headed North? Morgan Stanley Issues Upgrade

American National Insurance Company sold 58,900 shares as Corning Inc. Citigroup Inc now has $204.15B valuation.

Encana Corporation (ECA) performance during the last one year upgraded 1.4 percent, while its year to date (YTD) performance showed a positive trend of 3.08 percent.

Efficiency or profitability analysis gives an appropriate idea for investment decision; Encana Corporation (NYSE:ECA) attains returns on investment ratio of -9.60%, which suggests it's viable on security that has lesser ROI. ECA's profit will be $104.83M for 31.23 P/E if the $0.11 EPS becomes a reality. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.03). The stock decreased 0.29% or $0.04 during the last trading session, reaching $13.59. The target implies a -33.63% decrease from where the shares are now trading.

Encana Corporation (NYSE:ECA)'s institutional ownership stands at 67.20%. It has outperformed by 33.43% the S&P500. IFP Advisors Inc now owns 42,555 shares of the oil and gas company's stock worth $567,000 after purchasing an additional 4,730 shares in the last quarter. (NYSE:C) for 9,625 shares. Dominion Diamond Corp (NYSE:DDC) was raised too.

Since August 4, 2017, it had 0 insider buys, and 2 sales for $3.05 million activity. Its down 6.75% from 16.92M shares previously. A move above 70 is widely considered to show the stock as overbought, and a move below 30 would indicate that the stock may be oversold. Aristeguieta Francisco had sold 40,000 shares worth $2.70 million.

Investors sentiment increased to 1.35 in 2017 Q3. Its down 0.17, from 0.92 in 2017Q2. DIMENSIONAL FUND ADVISORS LP also announced decreased position in Noble Corporation plc (NE) during the quarter.

The Awesome Oscillator for Qmis Finance Secs Corp (QMIS) is showing a five day consistent downtrend, signaling building market momentum for the shares. Omers Administration holds 0.05% or 134,800 shares.

CyrusOne Inc. (NASDAQ:CONE) inside ownership was 0.30%. National Asset Management owns 36,631 shares. (NYSE:C). Regent Invest Mngmt Ltd Llc owns 24,820 shares or 0.61% of their USA portfolio. 10,783 were accumulated by Brighton Jones Ltd Liability Company. Average true range (ATR-14) of the company is at 0.37. Mount Lucas Mngmt Ltd Partnership invested 1.87% in Corning Incorporated (NYSE:GLW). Holderness Communication invested in 0.58% or 37,356 shares.

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Shares of Noble Corporation plc (NYSE:NE) have seen a movement of 1.19% in the most recent session. Therefore 75% are positive. Corning Incorporated had 44 analyst reports since July 30, 2015 according to SRatingsIntel. The stock of Encana Corporation (NYSE:ECA) has "Buy" rating given on Friday, September 29 by GMP Securities. The stock has "Neutral" rating by Credit Suisse on Monday, October 26.

TRADEMARK VIOLATION WARNING: "Encana (ECA) Upgraded at Morgan Stanley" was first published by The Lincolnian Online and is the sole property of of The Lincolnian Online. RBC Capital Markets maintained the shares of ECA in report on Friday, July 22 with "Sector Perform" rating.

Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays.

Analysts believe that the company has the potential to earn average revenue of $1.07 Billion for the current quarter.

The company P/E (price to earnings) ratio is 17.26 and Forward P/E ratio is 19.97. It also holds interests in assets that comprise the Eagle Ford in south Texas; Permian in west Texas; San Juan in northwest New Mexico; Piceance in northwest Colorado; and Tuscaloosa Marine Shale in east Louisiana and west Mississippi. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the company. The firm has "Underperform" rating given on Tuesday, September 20 by Scotia Capital. Encana has a 12 month low of $8.01 and a 12 month high of $14.31. The stock has "Hold" rating by Macquarie Research on Wednesday, June 21.

Shares of New York-listed Encana (NYSE:ECA) Have been downgraded by stock analysts at Morgan Stanley. The rating was maintained by Morgan Stanley with "Equal-Weight" on Friday, October 13. The firm presently has a $18.00 target price on the oil and gas company's stock, up from their prior target price of $15.00.

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