Encana Corporation (ECA) Position Cut by Fiera Capital Corp
Fiera Capital Corp trimmed its holdings in Encana Corporation (NYSE:ECA) (TSE:ECA) by 32.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,820,492 shares of the oil and gas company’s stock after selling 891,820 shares during the quarter. Fiera Capital Corp owned about 0.19% of Encana Corporation worth $15,989,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Capital Fund Management S.A. grew its holdings in Encana Corporation by 103.1% in the 2nd quarter. Capital Fund Management S.A. now owns 563,668 shares of the oil and gas company’s stock worth $4,960,000 after buying an additional 286,089 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Encana Corporation by 49.5% in the 2nd quarter. Alliancebernstein L.P. now owns 107,309 shares of the oil and gas company’s stock worth $944,000 after buying an additional 35,541 shares in the last quarter. FCG Advisors LLC bought a new position in Encana Corporation in the 2nd quarter worth approximately $176,000. Franklin Resources Inc. bought a new position in Encana Corporation in the 2nd quarter worth approximately $2,797,000. Finally, Private Advisor Group LLC grew its holdings in Encana Corporation by 38.3% in the 2nd quarter. Private Advisor Group LLC now owns 52,597 shares of the oil and gas company’s stock worth $461,000 after buying an additional 14,560 shares in the last quarter. 66.76% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the company. UBS AG raised Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, July 5th. Sanford C. Bernstein raised Encana Corporation from a “market perform” rating to an “outperform” rating in a research note on Friday. BidaskClub lowered Encana Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Canaccord Genuity set a $14.00 price target on Encana Corporation and gave the company a “buy” rating in a research note on Tuesday, June 20th. Finally, AltaCorp Capital raised Encana Corporation from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $13.23.
Shares of Encana Corporation (ECA) opened at 10.46 on Friday. The stock has a 50 day moving average price of $9.53 and a 200-day moving average price of $10.14. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 12.47 and a beta of 2.06. Encana Corporation has a 12-month low of $8.01 and a 12-month high of $13.85.
Encana Corporation (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings results 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 analyst estimates of $773.19 million. During the same quarter in the previous year, the business earned $0.10 EPS. Equities analysts anticipate that Encana Corporation will post $0.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.015 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.06 annualized dividend and a yield of 0.57%. Encana Corporation’s dividend payout ratio is currently 6.98%.
About Encana Corporation
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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