Eqis Capital Management Inc. raised its stake in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 74.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,796 shares of the oil and gas company’s stock after buying an additional 37,949 shares during the quarter. Eqis Capital Management Inc.’s holdings in Encana were worth $1,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in ECA. CIBC Asset Management Inc grew its holdings in Encana by 99.9% during the 3rd quarter. CIBC Asset Management Inc now owns 13,144,660 shares of the oil and gas company’s stock valued at $154,346,000 after buying an additional 6,568,955 shares in the last quarter. BlackRock Inc. grew its holdings in Encana by 15.4% during the 2nd quarter. BlackRock Inc. now owns 25,264,984 shares of the oil and gas company’s stock valued at $222,330,000 after buying an additional 3,368,871 shares in the last quarter. Guardian Capital LP grew its holdings in shares of Encana by 39.7% in the third quarter. Guardian Capital LP now owns 7,302,829 shares of the oil and gas company’s stock valued at $85,750,000 after purchasing an additional 2,076,822 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Encana by 1,297.6% in the third quarter. Alyeska Investment Group L.P. now owns 2,011,683 shares of the oil and gas company’s stock valued at $23,698,000 after purchasing an additional 1,867,742 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Encana in the third quarter valued at $13,316,000. 68.34% of the stock is owned by institutional investors and hedge funds.
Shares of Encana Corp (NYSE:ECA) opened at $10.86 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $10,590.00, a price-to-earnings ratio of 13.58, a PEG ratio of 1.38 and a beta of 2.07. Encana Corp has a 52-week low of $8.01 and a 52-week high of $14.31.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Encana from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. AltaCorp Capital raised shares of Encana from a “sector perform” rating to an “outperform” rating in a report on Wednesday, February 7th. Jefferies Group set a $17.00 target price on shares of Encana and gave the company a “buy” rating in a report on Tuesday, January 30th. National Bank Financial raised their target price on shares of Encana from $14.00 to $14.50 and gave the company an “outperform” rating in a report on Thursday, November 9th. Finally, TD Securities raised their price target on Encana from $14.50 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, seventeen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target 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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