Gateway Investment Advisers LLC reduced its holdings in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 31.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 108,106 shares of the oil and gas company’s stock after selling 50,480 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Encana were worth $783,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in ECA. Focused Wealth Management Inc lifted its holdings in shares of 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 valued at $35,000 after purchasing an additional 12,000 shares during the last quarter. Lindbrook Capital LLC purchased a new stake in shares of Encana in the 4th quarter valued at about $36,000. FDx Advisors Inc. purchased a new stake in shares of Encana in the 4th quarter valued at about $62,000. Whittier Trust Co. lifted its holdings in shares of Encana by 52.8% in the 4th quarter. Whittier Trust Co. now owns 11,876 shares of the oil and gas company’s stock valued at $69,000 after purchasing an additional 4,104 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Encana in the 4th quarter valued at about $72,000. 77.33% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on ECA. TheStreet raised Encana from a “d+” rating to a “c+” rating in a report on Thursday, March 14th. CSFB reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Encana in a research note on Thursday, March 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of Encana in a research note on Wednesday, January 30th. Cowen raised Encana from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research note on Monday, March 11th. They noted that the move was a valuation call. Finally, Mizuho assumed coverage on Encana in a research note on Tuesday, January 29th. They set a “neutral” rating and a $8.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the stock. Encana has an average rating of “Buy” and an average target price of $11.78.
Shares of ECA stock opened at $7.27 on Wednesday. The company has a market cap of $7.00 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 0.54 and a beta of 2.10. Encana Corp has a 12-month low of $5.00 and a 12-month high of $14.28. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.50.
Encana (NYSE:ECA) (TSE:ECA) last issued its earnings results on Thursday, February 28th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.18. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $1.50 billion. Encana had a return on equity of 12.08% and a net margin of 18.00%. On average, equities research analysts expect that Encana Corp will post 0.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.019 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from Encana’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Thursday, March 14th. Encana’s dividend payout ratio is 9.30%.
In other news, Director Steven W. Nance sold 16,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $7.40, for a total transaction of $118,400.00. Following the completion of the transaction, the director now directly owns 82,146 shares of the company’s stock, valued at approximately $607,880.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Suzanne P. Nimocks bought 10,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average cost of $6.65 per share, with a total value of $66,500.00. Following the completion of the purchase, the director now owns 25,600 shares in the company, valued at approximately $170,240. The disclosure for this purchase can be found here. Corporate insiders own 0.11% of the company’s stock.
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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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