Advisor Partners LLC boosted its holdings in Encana Corp (NYSE:ECA) (TSE:ECA) by 58.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 22,109 shares of the oil and gas company’s stock after purchasing an additional 8,148 shares during the quarter. Advisor Partners LLC’s holdings in Encana were worth $102,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Pinnacle Associates Ltd. raised its position in Encana by 43.6% in the second quarter. Pinnacle Associates Ltd. now owns 23,050 shares of the oil and gas company’s stock worth $118,000 after acquiring an additional 7,000 shares in the last quarter. CoreCommodity Management LLC increased its stake in Encana by 4.0% in the 2nd quarter. CoreCommodity Management LLC now owns 211,075 shares of the oil and gas company’s stock worth $1,083,000 after purchasing an additional 8,064 shares in the last quarter. Cerebellum GP LLC increased its stake in Encana by 56.4% in the 2nd quarter. Cerebellum GP LLC now owns 72,456 shares of the oil and gas company’s stock worth $372,000 after purchasing an additional 26,137 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Encana by 2,812.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 868,903 shares of the oil and gas company’s stock worth $4,352,000 after purchasing an additional 839,069 shares in the last quarter. Finally, Riverhead Capital Management LLC increased its stake in Encana by 30.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 12,438 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 2,900 shares in the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.
A number of equities analysts recently weighed in on the company. Raymond James reissued an “outperform” rating and issued a $10.00 price target on shares of Encana in a research note on Thursday, August 1st. Morgan Stanley dropped their price target on Encana from $6.50 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Macquarie assumed coverage on Encana in a research note on Monday, September 23rd. They issued a “neutral” rating and a $5.50 price target on the stock. ValuEngine raised Encana from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Wolfe Research cut Encana from a “peer perform” rating to an “underperform” rating and set a $5.00 price target on the stock. in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Encana presently has a consensus rating of “Hold” and an average target price of $9.27.
Encana (NYSE:ECA) (TSE:ECA) last released its earnings results on Wednesday, July 31st. The oil and gas company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Encana had a return on equity of 10.76% and a net margin of 16.73%. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.75 billion. On average, equities research analysts anticipate that Encana Corp will post 0.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.0188 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.08 annualized dividend and a yield of 1.84%. Encana’s dividend payout ratio (DPR) is presently 9.30%.
In other news, CEO Douglas James Suttles purchased 10,000 shares of Encana stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $4.19 per share, for a total transaction of $41,900.00. Following the acquisition, the chief executive officer now directly owns 194,212 shares in the company, valued at $813,748.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Gordon Shaw purchased 16,000 shares of Encana stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $4.45 per share, with a total value of $71,200.00. Following the completion of the acquisition, the director now owns 30,000 shares in the company, valued at $133,500. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 66,000 shares of company stock worth $276,200. Company insiders own 0.11% of the company’s stock.
Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It holds interests in various assets, including the Montney in northeast British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.
Further Reading: What is an investor looking for in an SEC filing?
Want to see what other hedge funds are holding ECA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Encana Corp (NYSE:ECA) (TSE:ECA).
Receive News & Ratings for Encana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encana and related companies with MarketBeat.com's FREE daily email newsletter.