Perella Weinberg Partners Capital Management LP Lowers Holdings in Encana Corp (NYSE:ECA)

Perella Weinberg Partners Capital Management LP decreased its stake in Encana Corp (NYSE:ECA) (TSE:ECA) by 17.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,800,806 shares of the oil and gas company’s stock after selling 390,708 shares during the quarter. Perella Weinberg Partners Capital Management LP owned approximately 0.13% of Encana worth $9,238,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ECA. Geode Capital Management LLC boosted its holdings in Encana by 14.0% during the 4th quarter. Geode Capital Management LLC now owns 815,794 shares of the oil and gas company’s stock worth $4,674,000 after acquiring an additional 100,023 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Encana during the 4th quarter worth $305,000. MML Investors Services LLC boosted its holdings in Encana by 51.3% during the 4th quarter. MML Investors Services LLC now owns 41,883 shares of the oil and gas company’s stock worth $242,000 after acquiring an additional 14,204 shares during the last quarter. First Allied Advisory Services Inc. boosted its holdings in Encana by 35.6% during the 4th quarter. First Allied Advisory Services Inc. now owns 14,536 shares of the oil and gas company’s stock worth $85,000 after acquiring an additional 3,819 shares during the last quarter. Finally, Norges Bank purchased a new position in Encana during the 4th quarter worth $48,974,000. Hedge funds and other institutional investors own 69.92% of the company’s stock.

In other news, CEO Douglas James Suttles acquired 5,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were acquired at an average cost of $5.33 per share, for a total transaction of $26,650.00. Following the purchase, the chief executive officer now owns 174,212 shares of the company’s stock, valued at approximately $928,549.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Suzanne P. Nimocks acquired 10,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was purchased at an average price of $4.77 per share, for a total transaction of $47,700.00. Following the completion of the purchase, the director now directly owns 35,600 shares in the company, valued at approximately $169,812. The disclosure for this purchase can be found here. Insiders purchased a total of 116,450 shares of company stock worth $608,238 over the last 90 days. 0.11% of the stock is currently owned by company insiders.

ECA has been the topic of a number of analyst reports. National Bank Financial lifted their price objective on shares of Encana from $8.50 to $9.50 and gave the stock an “outperform” rating in a report on Thursday. Goldman Sachs Group downgraded shares of Encana to a “buy” rating in a report on Friday, April 12th. JPMorgan Chase & Co. assumed coverage on shares of Encana in a report on Monday, April 29th. They issued a “neutral” rating and a $12.00 price target on the stock. TD Securities cut their price target on shares of Encana from $11.00 to $10.50 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, SunTrust Banks assumed coverage on shares of Encana in a report on Tuesday. They issued a “hold” rating and a $4.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $10.33.

Encana stock traded down $0.05 during midday trading on Friday, reaching $4.43. The stock had a trading volume of 942,417 shares, compared to its average volume of 21,277,272. Encana Corp has a 12 month low of $4.03 and a 12 month high of $14.28. The business has a 50-day moving average of $4.76. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 5.13, a PEG ratio of 0.90 and a beta of 2.02. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74.

Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. Encana had a return on equity of 10.79% and a net margin of 11.48%. The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.75 billion. On average, equities research analysts anticipate that Encana Corp will post 0.64 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.0188 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 1.69%. Encana’s dividend payout ratio is currently 9.30%.

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. 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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Institutional Ownership by Quarter for Encana (NYSE:ECA)

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