Hexavest Inc. Sells 122,388 Shares of Encana Corp (NYSE:ECA)

Hexavest Inc. decreased its position in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 22.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 431,889 shares of the oil and gas company’s stock after selling 122,388 shares during the period. Hexavest Inc.’s holdings in Encana were worth $1,980,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ECA. Northwestern Mutual Wealth Management Co. increased its position in Encana by 170.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 10,017 shares of the oil and gas company’s stock worth $73,000 after buying an additional 6,320 shares during the period. Formula Growth Ltd. increased its position in Encana by 40.5% during the 1st quarter. Formula Growth Ltd. now owns 1,145,000 shares of the oil and gas company’s stock worth $8,290,000 after buying an additional 330,000 shares during the period. Twin Focus Capital Partners LLC increased its position in Encana by 187.0% during the 1st quarter. Twin Focus Capital Partners LLC now owns 86,109 shares of the oil and gas company’s stock worth $623,000 after buying an additional 56,109 shares during the period. Marshall Wace North America L.P. increased its position in Encana by 216.5% during the 1st quarter. Marshall Wace North America L.P. now owns 3,209,454 shares of the oil and gas company’s stock worth $23,245,000 after buying an additional 2,195,406 shares during the period. Finally, Clearbridge Investments LLC increased its position in Encana by 188.5% during the 1st quarter. Clearbridge Investments LLC now owns 34,195,526 shares of the oil and gas company’s stock worth $247,576,000 after buying an additional 22,343,259 shares during the period. Hedge funds and other institutional investors own 70.67% of the company’s stock.

Several research analysts have weighed in on ECA shares. Raymond James reiterated an “outperform” rating and set a $10.00 price objective on shares of Encana in a research report on Thursday, August 1st. ValuEngine upgraded Encana from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. National Bank Financial raised their price target on Encana from $8.50 to $9.50 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. BMO Capital Markets decreased their price target on Encana from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Finally, Morgan Stanley decreased their price target on Encana from $6.50 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $9.55.

Shares of NYSE ECA opened at $4.42 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.80 and a current ratio of 0.80. Encana Corp has a 52 week low of $3.92 and a 52 week high of $11.63. The stock has a market capitalization of $5.74 billion, a P/E ratio of 5.14, a PEG ratio of 1.17 and a beta of 1.98. The stock’s fifty day moving average is $4.57 and its 200 day moving average is $5.40.

Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.75 billion. Encana had a return on equity of 10.76% and a net margin of 16.73%. Equities research analysts forecast that Encana Corp will post 0.62 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.0188 dividend. This represents a $0.08 annualized dividend and a yield of 1.70%. The ex-dividend date was Thursday, September 12th. Encana’s dividend payout ratio (DPR) is presently 9.30%.

In other Encana news, Director Fred J. Fowler acquired 25,000 shares of Encana stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $4.00 per share, with a total value of $100,000.00. Following the completion of the purchase, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $120,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas James Suttles acquired 10,000 shares of Encana stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average cost of $4.19 per share, for a total transaction of $41,900.00. Following the completion of the purchase, the chief executive officer now directly owns 194,212 shares of the company’s stock, valued at $813,748.28. The disclosure for this purchase can be found here. Insiders purchased 66,000 shares of company stock worth $276,200 over the last ninety days. 0.11% of the stock is currently owned by insiders.

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

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