JPMorgan Chase & Co. Increases Stake in Encana Corp. (ECA)
JPMorgan Chase & Co. boosted its position in Encana Corp. (NYSE:ECA) by 105.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 928,721 shares of the company’s stock after buying an additional 476,527 shares during the period. JPMorgan Chase & Co. owned about 0.11% of Encana Corp. worth $7,234,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Moors & Cabot Inc. increased its stake in Encana Corp. by 2.1% in the second quarter. Moors & Cabot Inc. now owns 65,450 shares of the company’s stock worth $514,000 after buying an additional 1,354 shares during 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 bought a new position in Encana Corp. during the second quarter valued at $13,352,000. 64.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of Encana Corp. (NYSE:ECA) traded up 1.21% on Friday, reaching $10.86. The company had a trading volume of 18,737,804 shares. Encana Corp. has a 52 week low of $3.00 and a 52 week high of $11.23. The company’s market capitalization is $9.23 billion. The company has a 50 day moving average of $9.92 and a 200-day moving average of $8.13.
Encana Corp. (NYSE:ECA) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, topping the 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 last year, the company earned ($0.20) earnings per share. Analysts predict that Encana Corp. will post ($0.04) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.55%. Encana Corp.’s dividend payout ratio is currently -1.79%.
ECA has been the topic of several analyst reports. Nomura boosted their target price on Encana Corp. from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research downgraded Encana Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Deutsche Bank AG reissued a “buy” rating and set a $13.00 target price (down previously from $15.00) on shares of Encana Corp. in a research report on Thursday, September 29th. BMO Capital Markets reissued a “buy” rating and set a $10.00 target price on shares of Encana Corp. in a research report on Friday, July 22nd. Finally, Royal Bank Of Canada cut their target price on Encana Corp. from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday, September 12th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $11.44.
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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