Wetherby Asset Management Inc. grew its position in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 70.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 64,529 shares of the oil and gas company’s stock after acquiring an additional 26,673 shares during the period. Wetherby Asset Management Inc.’s holdings in Encana were worth $297,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in ECA. Amundi Pioneer Asset Management Inc. increased its stake in Encana by 318.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 797,623 shares of the oil and gas company’s stock worth $5,775,000 after acquiring an additional 606,969 shares during the last quarter. Hexavest Inc. increased its stake in Encana by 21.8% during the second quarter. Hexavest Inc. now owns 554,277 shares of the oil and gas company’s stock worth $2,850,000 after acquiring an additional 99,024 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Encana during the second quarter worth about $413,000. Addison Capital Co acquired a new stake in Encana during the second quarter worth about $52,000. Finally, Addenda Capital Inc. increased its stake in Encana by 40.6% during the second quarter. Addenda Capital Inc. now owns 1,136,015 shares of the oil and gas company’s stock worth $5,843,000 after acquiring an additional 328,305 shares during the last quarter. Institutional investors own 70.27% of the company’s stock.
ECA traded up $0.17 on Friday, reaching $4.84. The company’s stock had a trading volume of 21,230,750 shares, compared to its average volume of 26,784,688. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 5.63, a price-to-earnings-growth ratio of 0.85 and a beta of 1.98. Encana Corp has a 1 year low of $3.81 and a 1 year high of $9.01. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.80. The business’s 50 day moving average is $4.40 and its 200 day moving average is $4.99.
In other news, CFO Corey Douglas Code bought 10,000 shares of Encana stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $4.06 per share, with a total value of $40,600.00. Following the acquisition, the chief financial officer now directly owns 52,463 shares in the company, valued at approximately $212,999.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sheila Marie Dipalma sold 79,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $53.48, for a total value of $4,251,660.00. Insiders purchased 53,300 shares of company stock valued at $220,080 in the last three months. 0.11% of the stock is currently owned by company insiders.
Several equities research analysts have commented on ECA shares. Raymond James set a $5.00 price target on Encana and gave the stock a “market perform” rating in a research note on Friday, November 1st. SunTrust Banks started coverage on Encana in a research note on Tuesday, July 30th. They issued a “hold” rating and a $4.00 target price for the company. TD Securities lowered their target price on Encana from $7.00 to $6.50 and set a “buy” rating for the company in a research note on Friday, November 1st. BMO Capital Markets lowered their target price on Encana from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Finally, CIBC lowered Encana from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $5.00 to $4.00 in a research note on Thursday, October 31st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $8.03.
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. 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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