Oppenheimer & Co. Inc. boosted its stake in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 351.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 88,392 shares of the oil and gas company’s stock after acquiring an additional 68,804 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Encana were worth $453,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of ECA. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Encana by 1.5% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 388,006 shares of the oil and gas company’s stock valued at $1,990,000 after acquiring an additional 5,765 shares during the last quarter. Ninepoint Partners LP lifted its stake in Encana by 40.0% in the second quarter. Ninepoint Partners LP now owns 1,400,000 shares of the oil and gas company’s stock valued at $7,182,000 after buying an additional 400,000 shares during the period. Trexquant Investment LP boosted its holdings in Encana by 38.0% during the second quarter. Trexquant Investment LP now owns 837,943 shares of the oil and gas company’s stock worth $4,299,000 after buying an additional 230,534 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in Encana during the second quarter worth about $1,618,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Encana in the 2nd quarter valued at approximately $2,529,000. 68.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Encana stock traded up $0.11 during trading on Wednesday, reaching $4.81. The stock had a trading volume of 9,017,018 shares, compared to its average volume of 22,913,714. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of 5.59, a P/E/G ratio of 1.36 and a beta of 1.98. The stock has a fifty day moving average price of $4.34 and a two-hundred day moving average price of $5.76. Encana Corp has a 52 week low of $3.92 and a 52 week high of $13.61.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.0188 per share. This represents a $0.08 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, September 12th. Encana’s dividend payout ratio (DPR) is currently 9.30%.
In other Encana news, Director Brian Gordon Shaw acquired 16,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $4.45 per share, with a total value of $71,200.00. Following the completion of the transaction, the director now directly owns 30,000 shares in the company, valued at approximately $133,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Suzanne P. Nimocks acquired 10,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was acquired at an average cost of $4.77 per share, for a total transaction of $47,700.00. Following the transaction, the director now owns 35,600 shares of the company’s stock, valued at $169,812. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 81,000 shares of company stock valued at $347,600. Insiders own 0.11% of the company’s stock.
A number of brokerages recently issued reports on ECA. Raymond James restated an “outperform” rating and set a $10.00 price objective on shares of Encana in a report on Thursday, August 1st. Morgan Stanley cut their target price on shares of Encana from $6.50 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. National Bank Financial increased their target price on shares of Encana from $8.50 to $9.50 and gave the stock an “outperform” rating in a report on Thursday, August 1st. BMO Capital Markets reduced their price target on shares of Encana from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Finally, SunTrust Banks initiated coverage on shares of Encana in a report on Tuesday, July 30th. They issued a “hold” rating and a $4.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. Encana currently has an average rating of “Buy” and a consensus price target of $10.15.
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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