Eqis Capital Management Inc. increased its stake in Encana Corp (NYSE:ECA) (TSE:ECA) by 95.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 280,650 shares of the oil and gas company’s stock after purchasing an additional 136,923 shares during the quarter. Eqis Capital Management Inc.’s holdings in Encana were worth $2,032,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of ECA. Shine Investment Advisory Services Inc. purchased a new position in shares of Encana during the 1st quarter valued at $26,000. American Research & Management Co. purchased a new position in shares of Encana during the 1st quarter valued at $27,000. TCI Wealth Advisors Inc. grew its position in shares of Encana by 383.9% during the 1st quarter. TCI Wealth Advisors Inc. now owns 4,892 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 3,881 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Encana during the 1st quarter valued at $37,000. Finally, Focused Wealth Management Inc grew its position in shares of Encana by 200.0% during the 4th quarter. Focused Wealth Management Inc now owns 6,000 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 12,000 shares in the last quarter. 79.09% of the stock is currently owned by institutional investors.
ECA has been the subject of several research reports. Goldman Sachs Group initiated coverage on shares of Encana in a research report on Tuesday, March 5th. They issued a “buy” rating and a $9.00 target price for the company. TD Securities cut their target price 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. Macquarie upgraded shares of Encana from a “neutral” rating to an “outperform” rating and set a $7.28 target price for the company in a research report on Monday, March 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $10.00 target price on shares of Encana in a research report on Wednesday, January 30th. Finally, Barclays started coverage on shares of Encana in a research report on Wednesday, April 3rd. They issued an “overweight” rating and a $11.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $11.79.
Shares of NYSE ECA traded down $0.12 during midday trading on Friday, hitting $6.59. 16,716,540 shares of the company traded hands, compared to its average volume of 24,236,276. Encana Corp has a 12-month low of $5.00 and a 12-month high of $14.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market capitalization of $9.66 billion, a P/E ratio of 7.66, a P/E/G ratio of 0.89 and a beta of 2.05.
Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.05. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Encana had a net margin of 11.48% and a return on equity of 10.79%. During the same quarter in the prior year, the company earned $0.16 earnings per share. Research analysts anticipate that Encana Corp will post 0.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.0188 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, June 13th. Encana’s dividend payout ratio (DPR) is presently 9.30%.
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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