Jennison Associates LLC Has $22.47 Million Holdings in Encana Corp (ECA)

Jennison Associates LLC grew its stake in Encana Corp (NYSE:ECA) (TSE:ECA) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,713,739 shares of the oil and gas company’s stock after acquiring an additional 90,012 shares during the quarter. Jennison Associates LLC owned 0.18% of Encana worth $22,467,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ECA. Advisor Partners LLC bought a new stake in Encana in the second quarter worth $134,000. Fox Run Management L.L.C. purchased a new stake in Encana during the third quarter valued at $196,000. Edgestream Partners L.P. purchased a new stake in Encana during the second quarter valued at $209,000. HRT Financial LLC purchased a new stake in Encana during the second quarter valued at $228,000. Finally, Manning & Napier Group LLC purchased a new stake in Encana during the third quarter valued at $262,000. 66.42% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Clayton Harvey Woitas purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was bought at an average cost of $8.78 per share, with a total value of $878,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas James Suttles purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The shares were purchased at an average cost of $7.04 per share, with a total value of $35,200.00. Following the completion of the purchase, the insider now owns 149,212 shares of the company’s stock, valued at approximately $1,050,452.48. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 235,655 shares of company stock valued at $2,036,414. Corporate insiders own 0.08% of the company’s stock.

A number of analysts recently commented on the company. Morgan Stanley reduced their price objective on Encana from $15.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday. GMP Securities reiterated a “buy” rating on shares of Encana in a research report on Thursday, November 15th. Zacks Investment Research reiterated a “hold” rating on shares of Encana in a research report on Tuesday, November 13th. Canaccord Genuity reiterated an “average” rating on shares of Encana in a research report on Wednesday, November 7th. Finally, AltaCorp Capital cut Encana from an “outperform” rating to a “sector perform” rating in a research report on Friday, November 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $14.97.

NYSE ECA opened at $7.12 on Friday. The stock has a market capitalization of $7.04 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 0.62 and a beta of 2.15. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.70 and a quick ratio of 0.70. Encana Corp has a twelve month low of $6.99 and a twelve month high of $14.31.

Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.25 billion. Encana had a positive return on equity of 9.53% and a negative net margin of 3.98%. Equities research analysts predict that Encana Corp will post 0.65 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, December 13th. Encana’s dividend payout ratio (DPR) is 13.95%.

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Encana 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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Institutional Ownership by Quarter for Encana (NYSE:ECA)

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