Sawyer & Company Inc lowered its holdings in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 35.9% in the 3rd quarter, Holdings Channel reports. The firm owned 32,185 shares of the oil and gas company’s stock after selling 18,000 shares during the quarter. Sawyer & Company Inc’s holdings in Encana were worth $422,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Encana by 274.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,002 shares of the oil and gas company’s stock worth $213,000 after acquiring an additional 6,600 shares during the last quarter. Clinton Group Inc. bought a new stake in shares of Encana in the 2nd quarter worth about $131,000. Advisor Partners LLC bought a new stake in shares of Encana in the 2nd quarter worth about $134,000. Fox Run Management L.L.C. bought a new stake in shares of Encana in the 3rd quarter worth about $196,000. Finally, Suntrust Banks Inc. bought a new stake in shares of Encana in the 1st quarter worth about $165,000. Institutional investors and hedge funds own 67.31% of the company’s stock.
Several research firms have recently issued reports on ECA. Zacks Investment Research lowered shares of Encana from a “buy” rating to a “hold” rating in a report on Friday. ValuEngine upgraded shares of Encana from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Canaccord Genuity restated a “buy” rating and issued a $19.00 target price on shares of Encana in a report on Thursday, July 12th. Morgan Stanley set a $19.00 target price on shares of Encana and gave the stock a “buy” rating in a report on Friday, October 12th. Finally, National Bank Financial lowered their target price on shares of Encana from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have given a buy rating to the company. Encana has an average rating of “Buy” and an average price target of $16.35.
ECA stock traded up $0.06 during trading on Monday, hitting $11.25. The company had a trading volume of 874,155 shares, compared to its average volume of 11,046,427. The company has a market capitalization of $10.66 billion, a PE ratio of 26.16, a P/E/G ratio of 1.02 and a beta of 2.02. Encana Corp has a 52-week low of $9.79 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.
Encana (NYSE:ECA) (TSE:ECA) last posted its quarterly earnings results on Wednesday, August 1st. The oil and gas company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.09. The company had revenue of $983.00 million for the quarter, compared to the consensus estimate of $1.14 billion. Encana had a net margin of 1.49% and a return on equity of 7.30%. Sell-side analysts forecast that Encana Corp will post 0.7 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.33%. 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 currently 13.95%.
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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