OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 22.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 61,900 shares of the oil and gas company’s stock after acquiring an additional 11,300 shares during the quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Encana were worth $808,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in ECA. Clinton Group Inc. acquired a new position in Encana during the 2nd quarter worth $131,000. M&T Bank Corp acquired a new position in Encana during the 1st quarter worth $134,000. Advisor Partners LLC acquired a new position in Encana during the 2nd quarter worth $134,000. Financial Gravity Wealth Inc. acquired a new position in Encana during the 1st quarter worth $142,000. Finally, Suntrust Banks Inc. acquired a new position in Encana during the 1st quarter worth $165,000. Institutional investors own 66.74% of the company’s stock.
ECA has been the subject of several research analyst reports. Zacks Investment Research lowered Encana from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. National Bank Financial cut their price objective on Encana from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, August 2nd. Canaccord Genuity restated a “buy” rating and issued a $19.00 price objective on shares of Encana in a report on Thursday, July 12th. TD Securities set a $17.00 price objective on Encana and gave the company a “buy” rating in a report on Wednesday, August 1st. Finally, ValuEngine upgraded Encana from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $16.08.
Shares of Encana stock opened at $12.17 on Friday. The firm has a market cap of $11.71 billion, a PE ratio of 28.30, a P/E/G ratio of 1.67 and a beta of 2.01. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.57. Encana Corp has a 12-month low of $9.79 and a 12-month high of $14.31.
Encana (NYSE:ECA) (TSE:ECA) last announced its earnings results on Wednesday, August 1st. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09. The company had revenue of $983.00 million for the quarter, compared to analyst estimates of $1.14 billion. Encana had a return on equity of 7.30% and a net margin of 1.49%. equities research analysts predict that Encana Corp will post 0.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 13th. This is a positive change from Encana’s previous quarterly dividend of $0.02. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.93%. Encana’s payout ratio is 13.95%.
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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