Seven Bridges Advisors LLC bought a new stake in Encana Corp. (NYSE:ECA) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 44,395 shares of the company’s stock, valued at approximately $346,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ECA. UBS Asset Management Americas Inc. boosted its position in Encana Corp. by 8.6% in the first quarter. UBS Asset Management Americas Inc. now owns 2,120,040 shares of the company’s stock valued at $12,982,000 after buying an additional 168,638 shares during the last quarter. BB&T Securities LLC increased its stake in shares of Encana Corp. by 22.6% in the first quarter. BB&T Securities LLC now owns 17,754 shares of the company’s stock worth $108,000 after buying an additional 3,270 shares during the period. Credit Agricole S A increased its stake in shares of Encana Corp. by 4.3% in the first quarter. Credit Agricole S A now owns 93,980 shares of the company’s stock worth $573,000 after buying an additional 3,867 shares during the period. JVL Advisors L.L.C. increased its stake in shares of Encana Corp. by 81.4% in the first quarter. JVL Advisors L.L.C. now owns 868,800 shares of the company’s stock worth $5,291,000 after buying an additional 389,800 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Encana Corp. by 50.1% in the first quarter. Bessemer Group Inc. now owns 60,528 shares of the company’s stock worth $368,000 after buying an additional 20,210 shares during the period. 64.68% of the stock is owned by hedge funds and other institutional investors.
Encana Corp. (NYSE:ECA) traded up 2.63% during trading on Wednesday, reaching $9.35. The company’s stock had a trading volume of 49,016,049 shares. The firm has a 50 day moving average of $9.57 and a 200 day moving average of $7.78. The stock’s market capitalization is $7.95 billion. Encana Corp. has a 52 week low of $3.00 and a 52 week high of $10.75.
Encana Corp. (NYSE:ECA) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.19. Encana Corp. had a negative net margin of 81.73% and a positive return on equity of 0.79%. During the same quarter in the prior year, the business posted ($0.20) EPS. Analysts expect that Encana Corp. will post ($0.10) EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.64%. Encana Corp.’s dividend payout ratio (DPR) is -1.79%.
ECA has been the subject of a number of recent analyst reports. AltaCorp Capital downgraded Encana Corp. from a “sector perform” rating to an “underperform” rating in a report on Friday, July 22nd. FirstEnergy Capital raised Encana Corp. from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 26th. Macquarie downgraded Encana Corp. from a “neutral” rating to an “underperform” rating in a report on Thursday, June 23rd. KLR Group initiated coverage on Encana Corp. in a report on Monday, August 29th. They set a “hold” rating and a $10.00 price target for the company. Finally, Royal Bank Of Canada decreased their price target on Encana Corp. from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Monday, September 12th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $9.71.
Encana Corp. Company Profile
Encana Corp is a Canada-based energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). 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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