44,395 Shares in Encana Corp. (ECA) Acquired by Seven Bridges Advisors LLC
Seven Bridges Advisors LLC acquired a new stake in shares of Encana Corp. (NYSE:ECA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 44,395 shares of the company’s stock, valued at approximately $346,000.
Other institutional investors have also made changes to their positions in the company. BB&T Securities LLC increased its position in shares of Encana Corp. by 22.6% in the first quarter. BB&T Securities LLC now owns 17,754 shares of the company’s stock valued at $108,000 after buying an additional 3,270 shares during the period. Loomis Sayles & Co. L P boosted its stake in shares of Encana Corp. by 39.6% in the first quarter. Loomis Sayles & Co. L P now owns 21,274 shares of the company’s stock valued at $130,000 after buying an additional 6,036 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of Encana Corp. during the first quarter valued at $187,000. AXA boosted its stake in shares of Encana Corp. by 14.3% in the first quarter. AXA now owns 32,273 shares of the company’s stock valued at $198,000 after buying an additional 4,040 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Encana Corp. by 50.1% in the first quarter. Bessemer Group Inc. now owns 60,528 shares of the company’s stock valued at $368,000 after buying an additional 20,210 shares in the last quarter. 64.68% of the stock is currently owned by institutional investors.
Encana Corp. (NYSE:ECA) traded up 2.63% during mid-day trading on Wednesday, reaching $9.35. The company had a trading volume of 49,016,049 shares. Encana Corp. has a 12 month low of $3.00 and a 12 month high of $10.75. The company’s market capitalization is $7.95 billion. The firm’s 50 day moving average price is $9.57 and its 200-day moving average price is $7.78.
Encana Corp. (NYSE:ECA) last released its earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.19. Encana Corp. had a positive return on equity of 0.79% and a negative net margin of 81.73%. During the same quarter in the previous year, the business posted ($0.20) earnings per share. Equities research analysts anticipate that Encana Corp. will post ($0.10) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.06 annualized dividend and a yield of 0.64%. Encana Corp.’s payout ratio is -1.79%.
Several equities research analysts have weighed in on the company. RBC Capital Markets reiterated a “sector perform” rating and issued a $10.00 target price (up from $9.00) on shares of Encana Corp. in a report on Monday, September 12th. Royal Bank Of Canada lowered their target price on Encana Corp. from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Monday, September 12th. Nomura upped their target price on Encana Corp. from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, September 12th. KLR Group assumed coverage on Encana Corp. in a report on Monday, August 29th. They issued a “hold” rating and a $10.00 target price for the company. Finally, Jefferies Group reiterated a “buy” rating and issued a $13.00 target price on shares of Encana Corp. in a report on Tuesday. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $9.71.
Encana Corp. Company Profile
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.
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