Tortoise Capital Advisors L.L.C. raised its stake in Encana Corp (NYSE:ECA) (TSE:ECA) by 12.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,151,104 shares of the oil and gas company’s stock after buying an additional 128,200 shares during the period. Tortoise Capital Advisors L.L.C.’s holdings in Encana were worth $5,905,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in ECA. SG Americas Securities LLC lifted its stake in Encana by 100.1% in the first quarter. SG Americas Securities LLC now owns 34,808 shares of the oil and gas company’s stock valued at $252,000 after buying an additional 17,409 shares during the period. Janney Montgomery Scott LLC lifted its stake in Encana by 28.7% in the first quarter. Janney Montgomery Scott LLC now owns 20,501 shares of the oil and gas company’s stock valued at $148,000 after buying an additional 4,573 shares during the period. Comerica Bank lifted its stake in Encana by 61.2% in the first quarter. Comerica Bank now owns 98,524 shares of the oil and gas company’s stock valued at $712,000 after buying an additional 37,408 shares during the period. Stephens Inc. AR lifted its stake in Encana by 47.1% in the first quarter. Stephens Inc. AR now owns 43,277 shares of the oil and gas company’s stock valued at $313,000 after buying an additional 13,861 shares during the period. Finally, First Allied Advisory Services Inc. lifted its stake in Encana by 46.4% in the first quarter. First Allied Advisory Services Inc. now owns 21,278 shares of the oil and gas company’s stock valued at $151,000 after buying an additional 6,742 shares during the period. 68.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:ECA traded down $0.02 during mid-day trading on Friday, reaching $4.89. 12,641,541 shares of the stock were exchanged, compared to its average volume of 24,913,634. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.70. The company has a market cap of $6.77 billion, a P/E ratio of 5.69, a P/E/G ratio of 1.46 and a beta of 1.98. Encana Corp has a one year low of $3.92 and a one year high of $13.61. The stock’s 50 day simple moving average is $4.46 and its 200-day simple moving average is $5.67.
Encana (NYSE:ECA) (TSE:ECA) last posted its quarterly earnings data on Wednesday, July 31st. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ 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 return on equity of 10.76% and a net margin of 16.73%. Analysts anticipate that Encana Corp will post 0.6 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.0188 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.53%. Encana’s payout ratio is presently 9.30%.
Several research firms have weighed in on ECA. Citigroup set a $11.00 target price on Encana and gave the company a “buy” rating in a research note on Friday, May 24th. Raymond James reaffirmed an “outperform” rating and set a $10.00 price target on shares of Encana in a research report on Thursday, August 1st. Morgan Stanley dropped their price target on Encana from $6.50 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. SunTrust Banks started coverage on Encana in a research report on Tuesday, July 30th. They set a “hold” rating and a $4.00 price target on the stock. Finally, National Bank Financial raised their price target on Encana from $8.50 to $9.50 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $9.73.
In other news, CEO Douglas James Suttles acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average cost of $4.19 per share, for a total transaction of $41,900.00. Following the completion of the acquisition, the chief executive officer now owns 194,212 shares in the company, valued at $813,748.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fred J. Fowler acquired 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $4.00 per share, with a total value of $100,000.00. Following the completion of the acquisition, the director now owns 30,000 shares of the company’s stock, valued at approximately $120,000. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 66,000 shares of company stock valued at $276,200. 0.11% of the stock is owned by corporate 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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