CIBC Asset Management Inc boosted its position in Encana Corp (NYSE:ECA) (TSE:ECA) by 14.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,103,299 shares of the oil and gas company’s stock after acquiring an additional 2,724,750 shares during the period. CIBC Asset Management Inc owned 1.53% of Encana worth $113,422,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of ECA. Cribstone Capital Management LLC boosted its holdings in Encana by 85.9% during the second quarter. Cribstone Capital Management LLC now owns 4,913 shares of the oil and gas company’s stock worth $25,000 after buying an additional 2,270 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in Encana by 13.0% during the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 20,166 shares of the oil and gas company’s stock worth $104,000 after buying an additional 2,324 shares during the last quarter. Regentatlantic Capital LLC boosted its holdings in Encana by 12.6% during the second quarter. Regentatlantic Capital LLC now owns 20,757 shares of the oil and gas company’s stock worth $106,000 after buying an additional 2,328 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in Encana by 11.6% during the first quarter. Wedbush Securities Inc. now owns 27,258 shares of the oil and gas company’s stock worth $197,000 after buying an additional 2,829 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its holdings in Encana by 2.1% during the first quarter. Commonwealth Bank of Australia now owns 143,864 shares of the oil and gas company’s stock worth $1,039,000 after buying an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 71.42% of the company’s stock.
Encana stock traded up $0.02 during midday trading on Tuesday, reaching $4.25. The stock had a trading volume of 907,625 shares, compared to its average volume of 27,538,166. The firm’s fifty day simple moving average is $4.42 and its 200-day simple moving average is $5.92. Encana Corp has a 1-year low of $3.92 and a 1-year high of $13.61. The stock has a market capitalization of $5.57 billion, a P/E ratio of 4.94, a price-to-earnings-growth ratio of 1.15 and a beta of 2.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.80 and a current ratio of 0.80.Encana (NYSE:ECA) (TSE:ECA) last announced its earnings results on Wednesday, July 31st. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.75 billion. On average, sell-side analysts anticipate that Encana Corp will post 0.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.0188 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Thursday, September 12th. Encana’s dividend payout ratio is presently 9.30%.
In related news, CFO Corey Douglas Code purchased 10,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $4.06 per share, for a total transaction of $40,600.00. Following the completion of the purchase, the chief financial officer now directly owns 52,463 shares in the company, valued at $212,999.78. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce Gordon Waterman purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of $5.06 per share, with a total value of $253,000.00. Following the completion of the purchase, the director now owns 250,000 shares of the company’s stock, valued at $1,265,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 135,000 shares of company stock valued at $629,000. Corporate insiders own 0.11% of the company’s stock.
A number of equities analysts have issued reports on ECA shares. Morgan Stanley reduced their target price on Encana from $6.50 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. JPMorgan Chase & Co. started coverage on Encana in a report on Monday, April 29th. They set a “neutral” rating and a $12.00 target price on the stock. TD Securities reduced their target price on Encana from $11.00 to $10.50 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Sanford C. Bernstein lowered Encana from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Finally, National Bank Financial raised their price target on Encana from $8.50 to $9.50 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $10.33.
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.
Featured Article: Net Margin – Understanding the Different Kinds of Profit
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.