MML Investors Services LLC lowered its holdings in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 11.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,731 shares of the oil and gas company’s stock after selling 5,904 shares during the quarter. MML Investors Services LLC’s holdings in Encana were worth $623,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its stake in Encana by 5.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 112,742 shares of the oil and gas company’s stock worth $1,328,000 after buying an additional 5,456 shares during the period. Stevens Capital Management LP increased its stake in Encana by 325.2% in the 3rd quarter. Stevens Capital Management LP now owns 49,285 shares of the oil and gas company’s stock worth $581,000 after buying an additional 37,693 shares during the period. Jennison Associates LLC purchased a new position in Encana in the 3rd quarter worth about $13,316,000. Sei Investments Co. increased its stake in Encana by 42.5% in the 3rd quarter. Sei Investments Co. now owns 627,473 shares of the oil and gas company’s stock worth $7,391,000 after buying an additional 187,264 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Encana by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,096,767 shares of the oil and gas company’s stock worth $12,919,000 after buying an additional 21,051 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.
Several research analysts recently commented on the stock. ValuEngine downgraded shares of Encana from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. GMP Securities reaffirmed a “buy” rating and issued a $15.50 price target on shares of Encana in a research note on Friday, February 23rd. UBS began coverage on shares of Encana in a research note on Wednesday, March 7th. They issued a “buy” rating on the stock. Zacks Investment Research downgraded shares of Encana from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. Finally, Jefferies Group set a $17.00 target price on shares of Encana and gave the company a “buy” rating in a research report on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.39.
Shares of NYSE:ECA traded down $0.20 during trading on Friday, reaching $10.92. The stock had a trading volume of 5,989,935 shares, compared to its average volume of 8,432,758. Encana Corp has a one year low of $8.01 and a one year high of $14.31. The stock has a market capitalization of $10,603.30, a P/E ratio of 25.40, a P/E/G ratio of 1.54 and a beta of 2.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.37 and a current ratio of 1.37.
Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Encana had a net margin of 18.58% and a return on equity of 6.25%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.06 billion. research analysts forecast that Encana Corp will post 0.71 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, March 14th. Encana’s dividend payout ratio is currently 13.95%.
Encana announced that its board has approved a share repurchase program on Thursday, February 15th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In related news, Director Suzanne P. Nimocks bought 5,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average cost of $10.62 per share, for a total transaction of $53,100.00. Following the purchase, the director now directly owns 10,600 shares of the company’s stock, valued at $112,572. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Margaret Anne Mckenzie bought 10,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was bought at an average price of $11.16 per share, with a total value of $111,600.00. Following the completion of the purchase, the director now directly owns 22,000 shares in the company, valued at $245,520. The disclosure for this purchase can be found here. Insiders bought a total of 24,500 shares of company stock worth $267,185 over the last 90 days. Company insiders own 0.08% of the company’s stock.
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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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