Wells Fargo & Company MN Has $8.19 Million Holdings in Encana Corp (ECA)

Wells Fargo & Company MN lessened its position in Encana Corp (NYSE:ECA) (TSE:ECA) by 22.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 695,398 shares of the oil and gas company’s stock after selling 198,569 shares during the quarter. Wells Fargo & Company MN owned 0.07% of Encana worth $8,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ECA. CIBC Asset Management Inc increased its stake in Encana by 99.9% in the third quarter. CIBC Asset Management Inc now owns 13,144,660 shares of the oil and gas company’s stock valued at $154,346,000 after acquiring an additional 6,568,955 shares during the last quarter. BlackRock Inc. increased its stake in Encana by 15.4% in the second quarter. BlackRock Inc. now owns 25,264,984 shares of the oil and gas company’s stock valued at $222,330,000 after acquiring an additional 3,368,871 shares during the last quarter. Jennison Associates LLC purchased a new stake in Encana during the third quarter valued at about $13,316,000. Russell Investments Group Ltd. boosted its position in Encana by 25.9% during the third quarter. Russell Investments Group Ltd. now owns 5,178,191 shares of the oil and gas company’s stock valued at $60,855,000 after buying an additional 1,063,726 shares during the period. Finally, Intact Investment Management Inc. purchased a new stake in Encana during the third quarter valued at about $15,463,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Shares of Encana Corp (NYSE:ECA) opened at $13.98 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.61 and a current ratio of 1.61. Encana Corp has a 1-year low of $8.01 and a 1-year high of $14.31. The firm has a market cap of $13,610.00, a PE ratio of 17.48, a PEG ratio of 1.98 and a beta of 2.15.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a $0.015 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.06 annualized dividend and a yield of 0.43%. Encana’s dividend payout ratio (DPR) is presently 7.50%.

Several analysts have issued reports on the stock. Desjardins upgraded shares of Encana from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Friday. Zacks Investment Research upgraded shares of Encana from a “sell” rating to a “hold” rating in a research report on Friday. BMO Capital Markets set a $17.00 price target on shares of Encana and gave the company a “buy” rating in a research report on Thursday. National Bank Financial upped their price target 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. Finally, Canaccord Genuity restated a “buy” rating and set a $16.00 price target on shares of Encana in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and four have given a strong buy rating to the stock. Encana currently has an average rating of “Buy” and a consensus price target of $15.02.

TRADEMARK VIOLATION NOTICE: “Wells Fargo & Company MN Has $8.19 Million Holdings in Encana Corp (ECA)” was published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://www.thelincolnianonline.com/2018/01/14/wells-fargo-company-mn-reduces-stake-in-encana-corp-eca-updated-updated.html.

About Encana

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.

Institutional Ownership by Quarter for Encana (NYSE:ECA)

Receive News & Ratings for Encana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encana and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply