State of Wisconsin Investment Board reduced its position in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 920,464 shares of the oil and gas company’s stock after selling 12,184 shares during the quarter. State of Wisconsin Investment Board’s holdings in Encana were worth $12,014,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in ECA. Zweig DiMenna Associates LLC bought a new stake in Encana during the 1st quarter worth about $111,000. Clinton Group Inc. bought a new stake in shares of Encana in the 2nd quarter valued at about $131,000. M&T Bank Corp bought a new stake in shares of Encana in the 1st quarter valued at about $134,000. Advisor Partners LLC bought a new stake in shares of Encana in the 2nd quarter valued at about $134,000. Finally, Financial Gravity Wealth Inc. bought a new stake in shares of Encana in the 1st quarter valued at about $142,000. 68.03% of the stock is owned by hedge funds and other institutional investors.
NYSE ECA opened at $12.57 on Friday. Encana Corp has a 52-week low of $8.79 and a 52-week high of $14.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $12.93 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 1.92 and a beta of 2.00.
Encana (NYSE:ECA) (TSE:ECA) last posted its earnings results on Wednesday, August 1st. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09. Encana had a return on equity of 7.30% and a net margin of 1.49%. The business had revenue of $983.00 million during the quarter, compared to analysts’ expectations of $1.14 billion. sell-side analysts expect that Encana Corp will post 0.7 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.77%. This is a boost from Encana’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Thursday, September 13th. Encana’s dividend payout ratio is presently 13.95%.
A number of analysts have recently commented on the company. Zacks Investment Research cut Encana from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. National Bank Financial lowered their price target on Encana from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, August 2nd. ValuEngine raised Encana from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. TD Securities set a $17.00 price target on Encana and gave the company a “buy” rating in a research note on Wednesday, August 1st. Finally, Desjardins reaffirmed a “buy” rating and issued a $17.00 price target on shares of Encana in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $15.98.
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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