Cannell Peter B & Co. Inc. Sells 8,210 Shares of Encana Corporation (ECA)
Cannell Peter B & Co. Inc. trimmed its stake in shares of Encana Corporation (NYSE:ECA) (TSE:ECA) by 6.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 127,542 shares of the oil and gas company’s stock after selling 8,210 shares during the quarter. Cannell Peter B & Co. Inc.’s holdings in Encana Corporation were worth $1,502,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Stephens Inc. AR acquired a new stake in Encana Corporation during the 3rd quarter worth approximately $1,525,000. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Encana Corporation by 183.5% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 90,057 shares of the oil and gas company’s stock valued at $1,060,000 after buying an additional 58,289 shares during the period. Cipher Capital LP lifted its holdings in shares of Encana Corporation by 934.3% in the 3rd quarter. Cipher Capital LP now owns 273,554 shares of the oil and gas company’s stock valued at $3,223,000 after buying an additional 247,106 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Encana Corporation by 111.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 124,266 shares of the oil and gas company’s stock valued at $1,464,000 after buying an additional 65,508 shares during the period. Finally, Commerce Bank acquired a new stake in shares of Encana Corporation in the 3rd quarter valued at approximately $118,000. 67.71% of the stock is owned by institutional investors.
Shares of Encana Corporation (ECA) traded up $0.01 during trading hours on Wednesday, hitting $11.64. The stock had a trading volume of 6,995,800 shares, compared to its average volume of 11,975,519. The stock has a market capitalization of $11,317.32, a P/E ratio of 29.08, a P/E/G ratio of 3.37 and a beta of 2.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.61 and a current ratio of 1.61. Encana Corporation has a twelve month low of $8.01 and a twelve month high of $13.85.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Thursday, December 14th. Encana Corporation’s dividend payout ratio (DPR) is presently 7.60%.
Several research firms have recently commented on ECA. BidaskClub cut Encana Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Barclays PLC raised their price target on Encana Corporation from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Monday. TD Securities raised their price target on Encana Corporation from $14.50 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 9th. National Bank Financial raised their price target on Encana Corporation from $14.00 to $14.50 and gave the company an “outperform” rating in a report on Thursday, November 9th. Finally, GMP Securities reissued a “buy” rating and issued a $16.00 price target on shares of Encana Corporation in a report on Friday, September 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen 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 target price of $14.43.
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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