D.A. Davidson & CO. boosted its stake in shares of Encana (NYSE:ECA) (TSE:ECA) by 27.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,932 shares of the oil and gas company’s stock after acquiring an additional 11,430 shares during the quarter. D.A. Davidson & CO.’s holdings in Encana were worth $582,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Trexquant Investment LP lifted its position in Encana by 193.3% during the 1st quarter. Trexquant Investment LP now owns 186,239 shares of the oil and gas company’s stock worth $2,049,000 after acquiring an additional 122,738 shares during the period. Hartree Partners LP raised its stake in shares of Encana by 185.7% during the 1st quarter. Hartree Partners LP now owns 410,750 shares of the oil and gas company’s stock worth $4,518,000 after buying an additional 267,000 shares in the last quarter. Stephens Inc. AR raised its stake in shares of Encana by 18.1% during the 1st quarter. Stephens Inc. AR now owns 154,412 shares of the oil and gas company’s stock worth $1,699,000 after buying an additional 23,694 shares in the last quarter. Atria Investments LLC raised its stake in shares of Encana by 26.9% during the 1st quarter. Atria Investments LLC now owns 38,335 shares of the oil and gas company’s stock worth $422,000 after buying an additional 8,131 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Encana by 14.2% during the 1st quarter. CIBC Asset Management Inc now owns 13,607,541 shares of the oil and gas company’s stock worth $149,436,000 after buying an additional 1,691,048 shares in the last quarter. 69.17% of the stock is owned by institutional investors.
NYSE ECA opened at $13.74 on Friday. Encana has a 1-year low of $13.35 and a 1-year high of $13.59. The company has a market capitalization of $12.94 billion, a P/E ratio of 28.00, a PEG ratio of 2.27 and a beta of 2.01. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.62.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.44%. The ex-dividend date is Thursday, June 14th. Encana’s payout ratio is 13.95%.
Encana declared that its board has authorized a stock repurchase program on Thursday, February 15th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
A number of equities analysts have recently issued reports on ECA shares. Morgan Stanley raised Encana from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $15.00 to $18.00 in a research note on Wednesday, January 24th. Jefferies Group set a $17.00 target price on Encana and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Zacks Investment Research downgraded Encana from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. AltaCorp Capital raised Encana from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, February 7th. Finally, Societe Generale raised Encana from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Thursday, February 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $15.28.
In related news, Director Howard John Mayson purchased 2,500 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was bought at an average price of $10.53 per share, with a total value of $26,325.00. Following the completion of the transaction, the director now owns 25,104 shares of the company’s stock, valued at approximately $264,345.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Suzanne P. Nimocks purchased 5,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of $10.62 per share, with a total value of $53,100.00. Following the transaction, the director now directly owns 10,600 shares of the company’s stock, valued at approximately $112,572. The disclosure for this purchase can be found here. Insiders have acquired 12,500 shares of company stock valued at $133,265 in the last three months. 0.08% of the stock is currently owned by company insiders.
Encana Company Profile
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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