Bank of New York Mellon Corp lowered its holdings in Encana Corp (NYSE:ECA) (TSE:ECA) by 7.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 965,661 shares of the oil and gas company’s stock after selling 76,268 shares during the period. Bank of New York Mellon Corp owned approximately 0.10% of Encana worth $12,603,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in ECA. Tower Research Capital LLC TRC raised its holdings in shares of Encana by 15.2% during the second quarter. Tower Research Capital LLC TRC now owns 34,320 shares of the oil and gas company’s stock worth $449,000 after acquiring an additional 4,535 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Encana by 15.8% during the second quarter. IFP Advisors Inc now owns 56,491 shares of the oil and gas company’s stock worth $737,000 after acquiring an additional 7,726 shares in the last quarter. AMP Capital Investors Ltd raised its holdings in shares of Encana by 3.2% during the second quarter. AMP Capital Investors Ltd now owns 300,438 shares of the oil and gas company’s stock worth $3,922,000 after acquiring an additional 9,300 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in shares of Encana by 22.3% during the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 61,900 shares of the oil and gas company’s stock worth $808,000 after acquiring an additional 11,300 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Encana by 22.6% during the second quarter. BNP Paribas Arbitrage SA now owns 73,212 shares of the oil and gas company’s stock worth $955,000 after acquiring an additional 13,480 shares in the last quarter. Institutional investors own 68.12% of the company’s stock.
Several analysts recently issued reports on ECA shares. Bank of America started coverage on Encana in a report on Tuesday, September 18th. They set a “buy” rating and a $19.00 price objective for the company. CIBC started coverage on Encana in a report on Friday, October 5th. They set a “neutral” rating for the company. BMO Capital Markets reiterated a “buy” rating and set a $18.00 price objective on shares of Encana in a report on Thursday, October 11th. ValuEngine lowered Encana from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Finally, Morgan Stanley set a $19.00 price objective on Encana and gave the stock a “buy” rating in a report on Friday, October 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $14.81.
In other Encana news, insider Douglas James Suttles bought 5,000 shares of the stock in a transaction on Thursday, December 6th. The shares were purchased at an average cost of $6.42 per share, with a total value of $32,100.00. Following the completion of the transaction, the insider now directly owns 154,212 shares of the company’s stock, valued at approximately $990,041.04. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sherri Anne Brillon purchased 17,250 shares of the stock in a transaction dated Thursday, November 8th. The stock was acquired at an average cost of $8.85 per share, for a total transaction of $152,662.50. Following the completion of the transaction, the chief financial officer now owns 114,165 shares of the company’s stock, valued at approximately $1,010,360.25. The disclosure for this purchase can be found here. Insiders have acquired 243,655 shares of company stock worth $2,089,214 over the last three months. Company insiders own 0.08% of the company’s stock.
Encana stock opened at $6.43 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 0.39 and a beta of 2.06. Encana Corp has a one year low of $6.31 and a one year high of $14.31.
Encana (NYSE:ECA) (TSE:ECA) last posted its earnings results on Thursday, November 1st. The oil and gas company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. Encana had a negative net margin of 3.98% and a positive return on equity of 9.53%. On average, sell-side analysts predict that Encana Corp will post 0.65 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.93%. The ex-dividend date is Thursday, December 13th. Encana’s payout ratio is 13.95%.
Encana Company Profile
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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