HRT Financial LLC bought a new stake in Encana Corp (NYSE:ECA) (TSE:ECA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,537 shares of the oil and gas company’s stock, valued at approximately $228,000.
A number of other large investors also recently added to or reduced their stakes in the business. Clinton Group Inc. acquired a new stake in shares of Encana during the second quarter worth about $131,000. M&T Bank Corp acquired a new stake in shares of Encana during the first quarter worth about $134,000. Advisor Partners LLC acquired a new stake in shares of Encana during the second quarter worth about $134,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Encana during the first quarter worth about $142,000. Finally, Suntrust Banks Inc. acquired a new stake in shares of Encana during the first quarter worth about $165,000. 66.74% of the stock is currently owned by hedge funds and other institutional investors.
ECA stock opened at $12.17 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 28.30, a P/E/G ratio of 1.67 and a beta of 2.01. Encana Corp has a twelve month low of $9.79 and a twelve month high of $14.31.
Encana (NYSE:ECA) (TSE:ECA) last posted its quarterly earnings results on Wednesday, August 1st. The oil and gas company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.09. The firm had revenue of $983.00 million during the quarter, compared to the consensus estimate of $1.14 billion. Encana had a return on equity of 7.30% and a net margin of 1.49%. research analysts predict that Encana Corp will post 0.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.93%. This is an increase from Encana’s previous quarterly dividend of $0.02. The ex-dividend date is Thursday, September 13th. Encana’s dividend payout ratio (DPR) is currently 13.95%.
A number of research firms have recently commented on ECA. ValuEngine lowered Encana from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Desjardins reissued a “buy” rating and issued a $17.00 target price on shares of Encana in a research report on Friday, July 27th. Zacks Investment Research lowered Encana from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Morgan Stanley lifted their target price on Encana from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 23rd. Finally, National Bank Financial lifted their target price on Encana from $18.00 to $22.00 and gave the company a “$12.96” rating in a research report on Wednesday, July 18th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Encana currently has a consensus rating of “Buy” and a consensus target price of $16.08.
Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company holds interests in various assets, including the Montney in northern 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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