Signaturefd LLC Lowers Stake in Encana Corp (NYSE:ECA)

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Signaturefd LLC reduced its holdings in Encana Corp (NYSE:ECA) (TSE:ECA) by 32.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 17,601 shares of the oil and gas company’s stock after selling 8,444 shares during the quarter. Signaturefd LLC’s holdings in Encana were worth $90,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Encana by 14.0% during the fourth quarter. Geode Capital Management LLC now owns 815,794 shares of the oil and gas company’s stock valued at $4,674,000 after acquiring an additional 100,023 shares during the period. DNB Asset Management AS bought a new stake in Encana during the first quarter valued at about $973,000. Virtu Financial LLC raised its holdings in Encana by 35.0% during the first quarter. Virtu Financial LLC now owns 90,620 shares of the oil and gas company’s stock valued at $656,000 after acquiring an additional 23,489 shares during the period. Meeder Asset Management Inc. bought a new stake in Encana during the first quarter valued at about $37,000. Finally, Wedbush Securities Inc. raised its holdings in Encana by 11.6% during the first quarter. Wedbush Securities Inc. now owns 27,258 shares of the oil and gas company’s stock valued at $197,000 after acquiring an additional 2,829 shares during the period. Institutional investors own 71.42% of the company’s stock.

In related news, Director Brian Gordon Shaw acquired 16,000 shares of Encana stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $4.45 per share, with a total value of $71,200.00. Following the completion of the purchase, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $133,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Suzanne P. Nimocks acquired 10,000 shares of Encana stock in a transaction on Monday, June 17th. The shares were bought at an average cost of $4.77 per share, for a total transaction of $47,700.00. Following the completion of the purchase, the director now directly owns 35,600 shares of the company’s stock, valued at $169,812. The disclosure for this purchase can be found here. Insiders have acquired 96,000 shares of company stock worth $420,550 over the last three months. 0.11% of the stock is currently owned by insiders.

A number of equities research analysts have commented on the company. SunTrust Banks assumed coverage on Encana in a report on Tuesday, July 30th. They set a “hold” rating and a $4.00 price target on the stock. Citigroup set a $11.00 target price on Encana and gave the stock a “buy” rating in a report on Friday, May 24th. BMO Capital Markets reduced their target price on Encana from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday. National Bank Financial lifted their target price on Encana from $8.50 to $9.50 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Morgan Stanley reduced their target price on Encana from $6.50 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Encana presently has an average rating of “Buy” and a consensus target price of $10.15.

NYSE ECA traded down $0.06 during trading hours on Friday, hitting $4.53. 15,083,856 shares of the company were exchanged, compared to its average volume of 22,926,966. The stock has a 50-day moving average price of $4.34 and a 200 day moving average price of $5.81. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.70. Encana Corp has a 52 week low of $3.92 and a 52 week high of $13.61. The stock has a market cap of $6.18 billion, a PE ratio of 5.27, a price-to-earnings-growth ratio of 1.32 and a beta of 1.98.

Encana (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Encana had a return on equity of 10.76% and a net margin of 16.73%. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.75 billion. As a group, sell-side analysts anticipate that Encana Corp will post 0.6 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.0188 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.08 annualized dividend and a yield of 1.66%. Encana’s payout ratio is currently 9.30%.

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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Institutional Ownership by Quarter for Encana (NYSE:ECA)

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