Cidel Asset Management Inc. lessened its position in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,849,370 shares of the oil and gas company’s stock after selling 17,175 shares during the quarter. Cidel Asset Management Inc. owned about 0.13% of Encana worth $9,564,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new stake in shares of Encana in the first quarter valued at about $37,000. Creative Planning raised its holdings in Encana by 95.8% in the first quarter. Creative Planning now owns 98,469 shares of the oil and gas company’s stock valued at $713,000 after acquiring an additional 48,168 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Encana by 346.3% during the first quarter. BNP Paribas Arbitrage SA now owns 206,710 shares of the oil and gas company’s stock worth $1,497,000 after purchasing an additional 160,389 shares in the last quarter. Private Capital Group LLC acquired a new stake in Encana during the first quarter worth approximately $73,000. Finally, James Investment Research Inc. acquired a new stake in Encana during the first quarter worth approximately $175,000. 68.23% of the stock is currently owned by institutional investors.
In other Encana news, Director Brian Gordon Shaw bought 16,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $4.45 per share, with a total value of $71,200.00. Following the acquisition, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $133,500. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Suzanne P. Nimocks purchased 10,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were acquired at an average price of $4.77 per share, with a total value of $47,700.00. Following the completion of the transaction, the director now owns 35,600 shares of the company’s stock, valued at $169,812. The disclosure for this purchase can be found here. Insiders have bought 76,000 shares of company stock valued at $323,900 over the last ninety days. 0.11% of the stock is owned by insiders.
A number of analysts have weighed in on the stock. National Bank Financial raised their price objective on shares of Encana from $8.50 to $9.50 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Raymond James reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Encana in a report on Thursday, August 1st. Citigroup set a $11.00 price objective on shares of Encana and gave the company a “buy” rating in a research report on Friday, May 24th. Morgan Stanley lowered their price objective on shares of Encana from $6.50 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Finally, SunTrust Banks began coverage on shares of Encana in a research report on Tuesday, July 30th. They issued a “hold” rating and a $4.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. Encana presently has a consensus rating of “Buy” and a consensus price target of $10.15.
Shares of ECA stock traded up $0.06 on Friday, hitting $4.74. 197,995 shares of the stock were exchanged, compared to its average volume of 21,968,244. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $6.30 billion, a P/E ratio of 5.48, a price-to-earnings-growth ratio of 1.36 and a beta of 1.98. The business has a 50-day moving average of $4.35 and a 200 day moving average of $5.75. Encana Corp has a fifty-two week low of $3.92 and a fifty-two week high of $13.61.
Encana (NYSE:ECA) (TSE:ECA) last posted its quarterly earnings data on Wednesday, July 31st. The oil and gas company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Encana had a return on equity of 10.76% and a net margin of 16.73%. As a group, research analysts forecast that Encana Corp will post 0.6 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.0188 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.08 annualized dividend and a dividend yield of 1.58%. Encana’s dividend payout ratio is currently 9.30%.
Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It holds interests in various assets, including the Montney in northeast 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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