Ameriprise Financial Inc. lowered its stake in Encana Corp. (NYSE:ECA) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 553,629 shares of the company’s stock after selling 7,168 shares during the period. Ameriprise Financial Inc. owned approximately 0.07% of Encana Corp. worth $4,313,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moors & Cabot Inc. increased its position in Encana Corp. by 2.1% in the second quarter. Moors & Cabot Inc. now owns 65,450 shares of the company’s stock valued at $514,000 after buying an additional 1,354 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Encana Corp. by 80.8% in the second quarter. Janney Montgomery Scott LLC now owns 32,936 shares of the company’s stock valued at $215,000 after buying an additional 14,715 shares in the last quarter. I.G. Investment Management LTD. increased its position in Encana Corp. by 1.9% in the second quarter. I.G. Investment Management LTD. now owns 962,949 shares of the company’s stock valued at $7,491,000 after buying an additional 17,556 shares in the last quarter. Aviva PLC increased its position in Encana Corp. by 16.1% in the second quarter. Aviva PLC now owns 509,202 shares of the company’s stock valued at $3,957,000 after buying an additional 70,731 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in Encana Corp. during the second quarter valued at about $13,352,000. 57.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Encana Corp. (NYSE:ECA) traded up 0.686% during trading on Tuesday, hitting $11.005. The stock had a trading volume of 2,835,571 shares. Encana Corp. has a 1-year low of $3.00 and a 1-year high of $11.36. The firm has a 50-day moving average of $10.09 and a 200 day moving average of $8.37. The company’s market capitalization is $9.35 billion.
Encana Corp. (NYSE:ECA) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.19. Encana Corp. had a negative net margin of 81.73% and a positive return on equity of 0.79%. During the same period in the prior year, the business posted ($0.20) earnings per share. Equities research analysts predict that Encana Corp. will post ($0.04) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Tuesday, September 13th. Encana Corp.’s payout ratio is -1.79%.
Several research analysts have issued reports on the company. Barclays PLC raised Encana Corp. from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $10.00 to $14.00 in a report on Tuesday, October 11th. BMO Capital Markets set a $14.00 price objective on Encana Corp. and gave the stock a “buy” rating in a report on Thursday, October 6th. AltaCorp Capital raised Encana Corp. from an “underperform” rating to a “sector perform” rating in a report on Thursday, October 6th. Societe Generale downgraded Encana Corp. from a “hold” rating to a “sell” rating in a research note on Friday, October 7th. Finally, Deutsche Bank AG increased their price target on Encana Corp. from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 6th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $11.88.
About Encana Corp.
Encana Corp is a Canada-based energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). 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.