Private Capital Group LLC bought a new stake in shares of Encana Corp (NYSE:ECA) (TSE:ECA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,043 shares of the oil and gas company’s stock, valued at approximately $73,000.
Several other large investors have also bought and sold shares of ECA. Bank of New York Mellon Corp lifted its stake in shares of Encana by 28.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,237,349 shares of the oil and gas company’s stock valued at $16,222,000 after purchasing an additional 271,688 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Encana by 197.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,480,217 shares of the oil and gas company’s stock valued at $19,405,000 after purchasing an additional 982,146 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Encana in the 3rd quarter valued at approximately $1,085,000. AQR Capital Management LLC lifted its stake in shares of Encana by 6.6% in the 3rd quarter. AQR Capital Management LLC now owns 600,252 shares of the oil and gas company’s stock valued at $7,841,000 after purchasing an additional 37,203 shares during the period. Finally, Neuberger Berman Group LLC lifted its stake in shares of Encana by 59.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 39,240 shares of the oil and gas company’s stock valued at $515,000 after purchasing an additional 14,684 shares during the period. Hedge funds and other institutional investors own 58.43% of the company’s stock.
A number of research firms have recently commented on ECA. JPMorgan Chase & Co. began coverage on Encana in a research note on Monday, April 29th. They issued a “neutral” rating and a $12.00 target price for the company. AltaCorp Capital reiterated an “outperform” rating on shares of Encana in a research note on Monday, April 8th. Raymond James reiterated an “outperform” rating and set a $11.00 price objective on shares of Encana in a research note on Wednesday, May 1st. Cowen reiterated a “hold” rating and set a $10.00 price objective on shares of Encana in a research note on Wednesday, February 20th. Finally, Sanford C. Bernstein cut Encana from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. Encana has an average rating of “Buy” and an average target price of $11.79.
Shares of Encana stock traded down $0.09 on Friday, reaching $5.91. The company’s stock had a trading volume of 28,317,623 shares, compared to its average volume of 22,546,526. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 0.88 and a beta of 2.05. Encana Corp has a 52 week low of $5.00 and a 52 week high of $14.28. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61.
Encana (NYSE:ECA) (TSE:ECA) last posted its earnings results on Tuesday, April 30th. The oil and gas company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.05. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. Encana had a return on equity of 10.79% and a net margin of 11.48%. During the same quarter last year, the company earned $0.16 EPS. On average, equities research analysts forecast that Encana Corp will post 0.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.0188 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Thursday, June 13th. Encana’s payout ratio is currently 9.30%.
In other news, COO Michael Gerard Mcallister acquired 5,200 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average price of $6.97 per share, with a total value of $36,244.00. Following the completion of the acquisition, the chief operating officer now directly owns 36,377 shares of the company’s stock, valued at approximately $253,547.69. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Suzanne P. Nimocks acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of $6.65 per share, with a total value of $66,500.00. Following the acquisition, the director now directly owns 25,600 shares of the company’s stock, valued at $170,240. The disclosure for this purchase can be found here. Insiders purchased 41,650 shares of company stock valued at $264,482 in the last ninety days. 0.11% of the stock is currently owned by corporate insiders.
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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