US Bancorp DE Buys 19,593 Shares of Encana Corporation (NYSE:ECA)
US Bancorp DE increased its position in Encana Corporation (NYSE:ECA) (TSE:ECA) by 28.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 87,934 shares of the oil and gas company’s stock after buying an additional 19,593 shares during the period. US Bancorp DE’s holdings in Encana Corporation were worth $774,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the company. Atria Investments LLC bought a new position in shares of Encana Corporation during the second quarter worth approximately $113,000. Equity Investment Corp Acquisition Inc boosted its position in shares of Encana Corporation by 10.7% in the first quarter. Equity Investment Corp Acquisition Inc now owns 12,330 shares of the oil and gas company’s stock worth $144,000 after buying an additional 1,195 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Encana Corporation during the first quarter worth approximately $166,000. United Services Automobile Association bought a new position in shares of Encana Corporation during the first quarter worth approximately $168,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Encana Corporation by 3,113.0% in the first quarter. Tower Research Capital LLC TRC now owns 18,796 shares of the oil and gas company’s stock worth $220,000 after buying an additional 18,211 shares in the last quarter. 73.10% of the stock is currently owned by institutional investors.
Encana Corporation (ECA) traded up 1.36% on Friday, reaching $9.69. The company had a trading volume of 7,309,171 shares. The firm has a market capitalization of $9.43 billion, a P/E ratio of 11.55 and a beta of 2.04. Encana Corporation has a 1-year low of $8.01 and a 1-year high of $13.85. The company’s 50-day moving average price is $9.38 and its 200 day moving average price is $10.65.
Encana Corporation (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.15. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $773.19 million. During the same quarter in the prior year, the company earned $0.10 EPS. On average, equities analysts forecast that Encana Corporation will post $0.50 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.015 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.06 annualized dividend and a dividend yield of 0.62%. Encana Corporation’s dividend payout ratio (DPR) is 6.98%.
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ECA has been the topic of a number of recent research reports. BMO Capital Markets set a $13.00 target price on Encana Corporation and gave the stock a “buy” rating in a report on Thursday, June 15th. GMP Securities reaffirmed a “buy” rating on shares of Encana Corporation in a report on Wednesday, June 14th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $14.00 target price on shares of Encana Corporation in a report on Monday, May 29th. Jefferies Group LLC set a $14.00 target price on Encana Corporation and gave the stock a “buy” rating in a report on Wednesday, May 17th. Finally, Canaccord Genuity set a $14.00 target price on Encana Corporation and gave the stock a “buy” rating in a report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and four have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $13.32.
Encana Corporation Company Profile
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.
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