Encana Corporation (ECA) Shares Sold by Bamco Inc. NY
Bamco Inc. NY trimmed its position in Encana Corporation (NYSE:ECA) (TSE:ECA) by 29.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 435,100 shares of the oil and gas company’s stock after selling 178,100 shares during the period. Bamco Inc. NY’s holdings in Encana Corporation were worth $3,829,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Stevens Capital Management LP acquired a new position in Encana Corporation during the 2nd quarter worth approximately $102,000. Atria Investments LLC bought a new position in Encana Corporation in the second quarter worth approximately $113,000. Equity Investment Corp Acquisition Inc boosted its holdings in Encana Corporation by 5.4% in the second quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock worth $114,000 after acquiring an additional 666 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Encana Corporation in the second quarter valued at approximately $118,000. Finally, DekaBank Deutsche Girozentrale grew its stake in Encana Corporation by 85.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 14,072 shares of the oil and gas company’s stock valued at $123,000 after acquiring an additional 6,500 shares during the period. 66.75% of the stock is owned by institutional investors and hedge funds.
Shares of Encana Corporation (ECA) opened at 11.78 on Monday. The company has a market cap of $11.46 billion, a price-to-earnings ratio of 14.04 and a beta of 2.11. The firm has a 50-day moving average of $9.56 and a 200 day moving average of $10.10. Encana Corporation has a 12 month low of $8.01 and a 12 month high of $13.85.
Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.15. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $773.19 million. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. During the same quarter in the previous year, the firm earned $0.10 EPS. On average, analysts expect that Encana Corporation will post $0.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.015 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.51%. Encana Corporation’s dividend payout ratio is presently 6.98%.
Several research firms have recently commented on ECA. Scotiabank upgraded Encana Corporation from an “underperform” rating to a “sector perform” rating and set a $11.00 price objective for the company in a report on Friday, June 30th. BidaskClub raised Encana Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. TD Securities reiterated a “buy” rating and issued a $12.50 target price on shares of Encana Corporation in a report on Sunday. Royal Bank Of Canada cut Encana Corporation to a “hold” rating in a report on Wednesday, July 5th. Finally, Raymond James Financial, Inc. raised shares of Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $13.52.
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Encana Corporation Profile
Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. The Company’s operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America.
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