Raymond James Financial Services Advisors Inc. decreased its position in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 23.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,151 shares of the oil and gas company’s stock after selling 24,603 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Encana were worth $451,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. AlphaCrest Capital Management LLC acquired a new position in Encana in the fourth quarter worth approximately $120,000. Bank of Nova Scotia raised its holdings in shares of Encana by 12.0% during the 4th quarter. Bank of Nova Scotia now owns 3,846,577 shares of the oil and gas company’s stock valued at $22,310,000 after purchasing an additional 411,223 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Encana during the 4th quarter valued at $411,000. Stephens Inc. AR raised its holdings in shares of Encana by 41.8% during the 4th quarter. Stephens Inc. AR now owns 29,416 shares of the oil and gas company’s stock valued at $170,000 after purchasing an additional 8,673 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Encana during the 4th quarter valued at $160,000. 77.33% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently commented on ECA shares. Goldman Sachs Group assumed coverage on shares of Encana in a report on Tuesday, March 5th. They issued a “buy” rating and a $9.00 target price on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $10.00 target price on shares of Encana in a research report on Wednesday, January 30th. TD Securities decreased their target price on shares of Encana from $16.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. Societe Generale set a $8.00 price target on shares of Encana and gave the company a “buy” rating in a research report on Thursday, February 28th. Finally, Citigroup restated a “buy” rating and issued a $13.00 price target on shares of Encana in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $11.78.
Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings results on Thursday, February 28th. The oil and gas company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.18. The firm had revenue of $2.38 billion during 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, equities research analysts anticipate that Encana Corp will post 0.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.019 dividend. This is an increase from Encana’s previous quarterly dividend of $0.02. The ex-dividend date was Thursday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 1.05%. Encana’s dividend payout ratio is 9.30%.
In related news, Director Steven W. Nance sold 16,000 shares of the stock in a transaction 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 sale, the director now directly owns 82,146 shares of the company’s stock, valued at $607,880.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Suzanne P. Nimocks acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average cost of $6.65 per share, for a total transaction 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 $170,240. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by corporate insiders.
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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