Steven W. Nance Sells 16,000 Shares of Encana Corp (NYSE:ECA) Stock

Encana Corp (NYSE:ECA) (TSE:ECA) Director Steven W. Nance sold 16,000 shares of the business’s 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 completion of the transaction, the director now owns 82,146 shares of the company’s stock, valued at approximately $607,880.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of NYSE ECA opened at $7.53 on Thursday. Encana Corp has a 12-month low of $5.00 and a 12-month high of $14.28. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 0.61 and a beta of 2.10. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.50.

Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings results on Thursday, February 28th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.18. Encana had a net margin of 18.00% and a return on equity of 12.08%. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $1.50 billion. On average, equities analysts predict that Encana Corp will post 0.61 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.019 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Encana’s previous quarterly dividend of $0.02. Encana’s dividend payout ratio is 9.30%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of Encana by 197.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,480,217 shares of the oil and gas company’s stock valued at $19,405,000 after purchasing an additional 982,146 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Encana by 16.4% during the 3rd quarter. Alliancebernstein L.P. now owns 128,451 shares of the oil and gas company’s stock valued at $1,684,000 after purchasing an additional 18,058 shares during the last quarter. Janus Henderson Group PLC grew its position in Encana by 5.8% during the 3rd quarter. Janus Henderson Group PLC now owns 278,226 shares of the oil and gas company’s stock worth $3,657,000 after acquiring an additional 15,296 shares during the last quarter. Bank of New York Mellon Corp grew its position in Encana by 28.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,237,349 shares of the oil and gas company’s stock worth $16,222,000 after acquiring an additional 271,688 shares during the last quarter. Finally, BlackRock Inc. grew its position in Encana by 24.5% during the 3rd quarter. BlackRock Inc. now owns 27,563,490 shares of the oil and gas company’s stock worth $361,359,000 after acquiring an additional 5,428,023 shares during the last quarter. 77.75% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on ECA shares. Goldman Sachs Group assumed coverage on shares of Encana in a research report on Tuesday, March 5th. They set a “buy” rating and a $9.00 price objective for the company. Cowen reissued a “hold” rating and issued a $10.00 price target on shares of Encana in a research report on Wednesday, February 20th. TD Securities reduced their price target on shares of Encana from $16.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, February 14th. CIBC raised shares of Encana from a “sector underperform” rating to a “neutral” rating in a research report on Thursday, January 31st. Finally, AltaCorp Capital reissued an “outperform” rating on shares of Encana in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the stock. Encana currently has an average rating of “Buy” and a consensus target price of $11.78.

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About Encana

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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