Deutsche Bank AG cut its position in Encana Corp (NYSE:ECA) (TSE:ECA) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,813,212 shares of the oil and gas company’s stock after selling 958,742 shares during the period. Deutsche Bank AG owned about 0.60% of Encana worth $77,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Commerce Bank purchased a new stake in shares of Encana in the third quarter worth $118,000. Klingenstein Fields & Co. LLC purchased a new stake in shares of Encana in the fourth quarter worth $143,000. Prospera Financial Services Inc purchased a new stake in shares of Encana in the fourth quarter worth $153,000. Krilogy Financial LLC purchased a new stake in shares of Encana in the third quarter worth $165,000. Finally, ING Groep NV purchased a new stake in shares of Encana in the fourth quarter worth $193,000. 68.51% of the stock is owned by hedge funds and other institutional investors.
In other Encana news, Director Howard John Mayson acquired 2,500 shares of the stock in a transaction on Thursday, March 1st. The stock was acquired at an average price of $10.53 per share, for a total transaction of $26,325.00. Following the completion of the transaction, the director now directly owns 25,104 shares of the company’s stock, valued at $264,345.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Suzanne P. Nimocks acquired 5,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were acquired at an average price of $10.62 per share, with a total value of $53,100.00. Following the transaction, the director now directly owns 10,600 shares of the company’s stock, valued at $112,572. The disclosure for this purchase can be found here. Insiders have acquired 23,500 shares of company stock valued at $256,395 in the last quarter. 0.08% of the stock is owned by company insiders.
Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Encana had a net margin of 18.58% and a return on equity of 6.25%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.06 billion. analysts expect that Encana Corp will post 0.74 EPS for the current year.
Encana declared that its board has approved a stock buyback plan on Thursday, February 15th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.06 annualized dividend and a yield of 0.55%. Encana’s dividend payout ratio (DPR) is currently 7.14%.
A number of brokerages have recently issued reports on ECA. UBS Group began coverage on shares of Encana in a research note on Wednesday, March 7th. They issued a “buy” rating for the company. GMP Securities reissued a “buy” rating and issued a $15.50 price objective on shares of Encana in a research note on Friday, February 23rd. ValuEngine cut shares of Encana from a “hold” rating to a “sell” rating in a research note on Friday, March 2nd. Zacks Investment Research cut shares of Encana from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. Finally, AltaCorp Capital cut shares of Encana from an “outperform” rating to a “sector perform” rating and set a $14.50 price objective for the company. in a research note on Monday, January 15th. Three equities research analysts have rated the stock with a sell rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $15.37.
Encana Company Profile
Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. The Company’s operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America.
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