Addenda Capital Inc. lessened its position in Encana Corp (NYSE:ECA) (TSE:ECA) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 997,875 shares of the oil and gas company’s stock after selling 18,020 shares during the period. Encana comprises about 0.9% of Addenda Capital Inc.’s portfolio, making the stock its 25th largest holding. Addenda Capital Inc. owned 0.10% of Encana worth $13,356,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Stevens Capital Management LP acquired a new stake in shares of Encana during the 2nd quarter worth about $102,000. Gotham Asset Management LLC acquired a new stake in shares of Encana during the 2nd quarter worth about $109,000. Commerce Bank acquired a new stake in shares of Encana during the 3rd quarter worth about $118,000. First Allied Advisory Services Inc. lifted its stake in shares of Encana by 13.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 13,351 shares of the oil and gas company’s stock worth $119,000 after buying an additional 1,567 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Encana during the 2nd quarter worth about $128,000. 68.66% of the stock is owned by institutional investors.
Shares of Encana Corp (NYSE ECA) traded down $0.72 during trading on Friday, reaching $11.55. 8,653,108 shares of the company’s stock traded hands, compared to its average volume of 8,520,000. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.60. Encana Corp has a twelve month low of $8.01 and a twelve month high of $14.31. The firm has a market cap of $11,230.00, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.65 and a beta of 2.07.
Encana (NYSE:ECA) (TSE:ECA) last released its earnings results on Wednesday, November 8th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). Encana had a net margin of 19.08% and a return on equity of 5.95%. The firm had revenue of $861.00 million during the quarter, compared to the consensus estimate of $826.84 million. equities analysts forecast that Encana Corp will post 0.41 EPS for the current year.
A number of analysts have recently issued reports on the stock. Scotiabank raised their target price on shares of Encana from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 19th. AltaCorp Capital cut shares of Encana from an “outperform” rating to a “sector perform” rating and set a $14.50 target price for the company. in a research note on Monday, January 15th. Desjardins upgraded shares of Encana from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday, January 12th. Zacks Investment Research upgraded shares of Encana from a “sell” rating to a “hold” rating in a research note on Friday, January 12th. Finally, National Bank Financial raised their target price on shares of Encana from $14.00 to $14.50 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $15.39.
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Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. 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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