Allianz Asset Management GmbH increased its stake in Encana Corp (NYSE:ECA) (TSE:ECA) by 295.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,999 shares of the oil and gas company’s stock after buying an additional 65,011 shares during the period. Allianz Asset Management GmbH’s holdings in Encana were worth $447,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in shares of Encana by 100.1% during the first quarter. SG Americas Securities LLC now owns 34,808 shares of the oil and gas company’s stock worth $252,000 after buying an additional 17,409 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Encana by 28.7% during the first quarter. Janney Montgomery Scott LLC now owns 20,501 shares of the oil and gas company’s stock worth $148,000 after buying an additional 4,573 shares during the period. First Republic Investment Management Inc. boosted its position in shares of Encana by 137.7% during the first quarter. First Republic Investment Management Inc. now owns 28,980 shares of the oil and gas company’s stock worth $210,000 after buying an additional 16,786 shares during the period. Janus Henderson Group PLC boosted its position in shares of Encana by 52.4% during the first quarter. Janus Henderson Group PLC now owns 399,717 shares of the oil and gas company’s stock worth $2,898,000 after buying an additional 137,436 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Encana by 168.5% during the first quarter. Parallel Advisors LLC now owns 5,121 shares of the oil and gas company’s stock worth $37,000 after buying an additional 3,214 shares during the period. 68.23% of the stock is owned by institutional investors.
Shares of NYSE ECA opened at $4.68 on Friday. The stock has a 50 day moving average price of $4.35 and a 200 day moving average price of $5.75. Encana Corp has a 52 week low of $3.92 and a 52 week high of $13.61. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $6.30 billion, a PE ratio of 5.44, a price-to-earnings-growth ratio of 1.36 and a beta of 1.98.
Encana (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas company reported $0.21 EPS for the quarter, beating the 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 firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.75 billion. As a group, research analysts forecast that Encana Corp will post 0.6 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.0188 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.08 annualized dividend and a yield of 1.60%. Encana’s dividend payout ratio (DPR) is presently 9.30%.
Several research firms have recently weighed in on ECA. BMO Capital Markets reduced their price objective on Encana from $9.00 to $8.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Citigroup set a $11.00 price objective on Encana and gave the stock a “buy” rating in a research report on Friday, May 24th. SunTrust Banks began coverage on Encana in a research report on Tuesday, July 30th. They set a “hold” rating and a $4.00 price objective for the company. Raymond James reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Encana in a research report on Thursday, August 1st. Finally, Morgan Stanley reduced their price objective on Encana from $6.50 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $10.15.
In other Encana news, Director Suzanne P. Nimocks acquired 10,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were purchased at an average price of $4.77 per share, for a total transaction of $47,700.00. Following the completion of the purchase, the director now directly owns 35,600 shares of the company’s stock, valued at $169,812. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Fred J. Fowler acquired 25,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $4.00 per share, for a total transaction of $100,000.00. Following the purchase, the director now directly owns 30,000 shares of the company’s stock, valued at $120,000. The disclosure for this purchase can be found here. Insiders acquired 76,000 shares of company stock worth $323,900 in the last 90 days. Corporate 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.
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