Letko Brosseau & Associates Inc. cut its stake in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 16,000,913 shares of the oil and gas company’s stock after selling 226,031 shares during the period. Encana comprises about 1.9% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 22nd biggest holding. Letko Brosseau & Associates Inc. owned 1.64% of Encana worth $214,163,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Commerce Bank acquired a new position in Encana during the third quarter worth $118,000. Klingenstein Fields & Co. LLC acquired a new stake in shares of Encana in the fourth quarter valued at about $143,000. Prospera Financial Services Inc acquired a new stake in shares of Encana in the fourth quarter valued at about $153,000. Krilogy Financial LLC acquired a new stake in shares of Encana in the third quarter valued at about $165,000. Finally, ING Groep NV acquired a new stake in shares of Encana in the fourth quarter valued at about $193,000. Institutional investors own 68.47% of the company’s stock.
Shares of ECA stock opened at $11.31 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.37 and a quick ratio of 1.37. Encana Corp has a 1-year low of $8.01 and a 1-year high of $14.31. The stock has a market cap of $10,665.43, a PE ratio of 13.31, a P/E/G ratio of 1.50 and a beta of 2.13.
Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. Encana had a net margin of 18.58% and a return on equity of 6.25%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.06 billion. research analysts expect that Encana Corp will post 0.73 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.53%. The ex-dividend date is Wednesday, March 14th. Encana’s dividend payout ratio (DPR) is presently 7.14%.
Encana declared that its Board of Directors has authorized a stock buyback program on Thursday, February 15th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
ECA has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Encana from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Scotiabank upgraded shares of Encana from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $13.00 to $14.00 in a research report on Friday, February 16th. National Bank Financial increased their target price on shares of Encana from $14.50 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. ValuEngine cut shares of Encana from a “hold” rating to a “sell” rating in a research report on Friday, March 2nd. Finally, AltaCorp Capital upgraded shares of Encana from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $15.33.
In related news, Director Howard John Mayson bought 2,500 shares of the stock in a transaction on Thursday, March 1st. The stock was bought at an average price of $10.53 per share, with a total value of $26,325.00. Following the completion of the purchase, the director now directly owns 25,104 shares in the company, valued at approximately $264,345.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Suzanne P. Nimocks bought 5,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of $10.62 per share, with a total value of $53,100.00. Following the purchase, the director now owns 10,600 shares of the company’s stock, valued at $112,572. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 22,500 shares of company stock valued at $245,325. 0.08% of the stock is currently owned by insiders.
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Encana Company Profile
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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