Nexus Investment Management Inc. lessened its position in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 995,979 shares of the oil and gas company’s stock after selling 10,543 shares during the period. Encana comprises 1.0% of Nexus Investment Management Inc.’s holdings, making the stock its 28th largest position. Nexus Investment Management Inc. owned approximately 0.10% of Encana worth $5,750,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in ECA. Riverhead Capital Management LLC lifted its holdings in shares of Encana by 421.1% during the third quarter. Riverhead Capital Management LLC now owns 8,338 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 6,738 shares during the period. Csenge Advisory Group acquired a new position in Encana in the 3rd quarter worth approximately $124,000. Fox Run Management L.L.C. acquired a new stake in shares of Encana during the 3rd quarter worth approximately $196,000. Freestone Capital Holdings LLC acquired a new stake in shares of Encana during the 3rd quarter worth approximately $223,000. Finally, HRT Financial LLC acquired a new stake in shares of Encana during the 2nd quarter worth approximately $228,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.
In other Encana news, EVP David Glen Hill acquired 10,000 shares of the stock in a transaction on Thursday, November 15th. The stock was purchased at an average price of $7.72 per share, for a total transaction of $77,200.00. Following the purchase, the executive vice president now directly owns 33,118 shares in the company, valued at $255,670.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas James Suttles acquired 50,000 shares of the stock in a transaction on Monday, November 5th. The shares were acquired at an average price of $8.83 per share, with a total value of $441,500.00. Following the purchase, the chief executive officer now owns 134,212 shares in the company, valued at $1,185,091.96. The disclosure for this purchase can be found here. Insiders have purchased 261,155 shares of company stock worth $2,181,884 in the last ninety days. 0.09% of the stock is currently owned by corporate insiders.
NYSE:ECA traded up $0.13 during trading hours on Monday, hitting $6.87. 1,196,964 shares of the stock traded hands, compared to its average volume of 36,833,813. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.70 and a quick ratio of 0.70. Encana Corp has a 1 year low of $5.00 and a 1 year high of $14.28. The company has a market capitalization of $6.18 billion, a P/E ratio of 15.87, a P/E/G ratio of 0.26 and a beta of 1.97.
Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.04. Encana had a negative net margin of 3.98% and a positive return on equity of 9.53%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.25 billion. On average, sell-side analysts anticipate that Encana Corp will post 0.63 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Friday, December 14th were issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, December 13th. Encana’s dividend payout ratio is presently 13.95%.
A number of equities research analysts have recently commented on the stock. AltaCorp Capital raised shares of Encana from a “sector perform” rating to an “outperform” rating in a research note on Monday, January 7th. BMO Capital Markets raised Encana from a “market perform” rating to an “outperform” rating in a report on Monday, January 7th. TheStreet lowered Encana from a “c-” rating to a “d+” rating in a report on Thursday, December 20th. TD Securities raised Encana to a “buy” rating in a report on Thursday, December 20th. Finally, Royal Bank of Canada lowered Encana to a “hold” rating in a report on Thursday, December 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. Encana has a consensus rating of “Buy” and an average target price of $14.81.
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Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company holds interests in various assets, including the Montney in northern 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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