Hillsdale Investment Management Inc. lowered its holdings in Encana Corp (NYSE:ECA) (TSE:ECA) by 38.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,045,300 shares of the oil and gas company’s stock after selling 654,100 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.07% of Encana worth $5,360,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of ECA. Cribstone Capital Management LLC boosted its holdings in Encana by 85.9% in the 2nd quarter. Cribstone Capital Management LLC now owns 4,913 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 2,270 shares during the period. Lee Financial Co bought a new stake in Encana in the 1st quarter valued at about $26,000. CWM LLC boosted its holdings in Encana by 193.5% in the 2nd quarter. CWM LLC now owns 5,268 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 3,473 shares during the period. Beutel Goodman & Co Ltd. bought a new stake in Encana in the 1st quarter valued at about $31,000. Finally, Meeder Asset Management Inc. bought a new stake in Encana in the 1st quarter valued at about $37,000. 69.98% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have issued reports on ECA. TD Securities cut their price objective on shares of Encana from $11.00 to $10.50 and set a “buy” rating for the company in a report on Wednesday, May 1st. Raymond James reissued an “outperform” rating and issued a $10.00 price objective on shares of Encana in a report on Thursday, August 1st. Sanford C. Bernstein downgraded shares of Encana from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. SunTrust Banks started coverage on shares of Encana in a report on Tuesday, July 30th. They issued a “hold” rating and a $4.00 price objective for the company. Finally, Morgan Stanley cut their price target on shares of Encana from $6.50 to $6.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Encana currently has an average rating of “Buy” and an average price target of $10.33.
NYSE:ECA traded up $0.08 on Friday, hitting $4.22. The company had a trading volume of 25,050,500 shares, compared to its average volume of 26,750,132. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 4.91, a PEG ratio of 0.98 and a beta of 2.00. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average of $4.58 and a two-hundred day moving average of $6.04. Encana Corp has a 52 week low of $3.92 and a 52 week high of $13.61.
Encana (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.75 billion. Encana had a net margin of 16.73% and a return on equity of 10.76%. As a group, equities analysts forecast that Encana Corp will post 0.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.0188 dividend. This represents a $0.08 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, September 12th. Encana’s payout ratio is 9.30%.
In related news, Director Fred J. Fowler acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average price of $4.00 per share, with a total value of $100,000.00. Following the purchase, the director now directly owns 30,000 shares in the company, valued at $120,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas James Suttles acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average cost of $6.01 per share, with a total value of $60,100.00. Following the purchase, the chief executive officer now owns 163,512 shares in the company, valued at $982,707.12. The disclosure for this purchase can be found here. In the last three months, insiders purchased 145,800 shares of company stock valued at $713,300. 0.11% of the stock is owned by insiders.
Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It holds interests in various assets, including the Montney in northeast 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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