Dimensional Fund Advisors LP lessened its stake in Encana Corp (NYSE:ECA) (TSE:ECA) by 5.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,200,358 shares of the oil and gas company’s stock after selling 194,782 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.34% of Encana worth $18,498,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of ECA. Focused Wealth Management Inc increased its holdings in Encana by 200.0% in the 4th quarter. Focused Wealth Management Inc now owns 6,000 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 12,000 shares in the last quarter. Lindbrook Capital LLC acquired a new stake in Encana during the 4th quarter worth $36,000. FDx Advisors Inc. acquired a new stake in Encana during the 4th quarter worth $62,000. Whittier Trust Co. boosted its stake in Encana by 52.8% during the 4th quarter. Whittier Trust Co. now owns 11,876 shares of the oil and gas company’s stock worth $69,000 after purchasing an additional 4,104 shares during the last quarter. Finally, Pinnacle Associates Ltd. acquired a new stake in Encana during the 4th quarter worth $84,000. 77.33% of the stock is owned by institutional investors.
In related news, Director Suzanne P. Nimocks bought 10,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were bought at an average price of $6.65 per share, with a total value of $66,500.00. Following the completion of the transaction, the director now directly owns 25,600 shares of the company’s stock, valued at approximately $170,240. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael Gerard Mcallister bought 5,200 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of $6.97 per share, for a total transaction of $36,244.00. Following the transaction, the chief operating officer now directly owns 36,377 shares of the company’s stock, valued at $253,547.69. The disclosure for this purchase can be found here. Insiders own 0.11% of the company’s stock.
Shares of ECA stock opened at $7.35 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $7.21 billion, a PE ratio of 8.80, a PEG ratio of 0.55 and a beta of 2.10. Encana Corp has a twelve month low of $5.00 and a twelve month high of $14.28.
Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings results on Thursday, February 28th. The oil and gas company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.18. The firm had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Encana had a net margin of 18.00% and a return on equity of 12.08%. As a group, analysts forecast that Encana Corp will post 0.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.019 per share. This is a boost from Encana’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 1.03%. Encana’s payout ratio is presently 9.30%.
Several equities research analysts have issued reports on the stock. Goldman Sachs Group cut shares of Encana to a “buy” rating in a research note on Friday. AltaCorp Capital reaffirmed an “outperform” rating on shares of Encana in a research note on Monday, April 8th. Barclays assumed coverage on shares of Encana in a research note on Wednesday, April 3rd. They set an “overweight” rating and a $11.00 target price on the stock. Citigroup reaffirmed a “buy” rating and set a $13.00 target price on shares of Encana in a research note on Monday, March 18th. Finally, TheStreet raised shares of Encana from a “d+” rating to a “c+” rating in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the stock. Encana has a consensus rating of “Buy” and an average price target of $11.78.
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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