Bessemer Group Inc. lessened its position in shares of Encana Co. (NYSE:ECA) (TSE:ECA) by 13.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,743 shares of the oil and gas company’s stock after selling 8,197 shares during the period. Bessemer Group Inc.’s holdings in Encana were worth $610,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Parkwood LLC raised its stake in Encana by 52.9% during the third quarter. Parkwood LLC now owns 576,054 shares of the oil and gas company’s stock worth $6,786,000 after buying an additional 199,327 shares during the last quarter. Stevens Capital Management LP raised its stake in Encana by 325.2% during the third quarter. Stevens Capital Management LP now owns 49,285 shares of the oil and gas company’s stock worth $581,000 after buying an additional 37,693 shares during the last quarter. IFP Advisors Inc raised its stake in Encana by 322.9% during the third quarter. IFP Advisors Inc now owns 37,825 shares of the oil and gas company’s stock worth $446,000 after buying an additional 28,881 shares during the last quarter. Intact Investment Management Inc. bought a new position in Encana during the third quarter worth $15,463,000. Finally, Crossmark Global Holdings Inc. bought a new position in Encana during the third quarter worth $1,020,000. 67.38% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on ECA shares. Morgan Stanley lifted their target price on shares of Encana from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 19th. Scotiabank lifted their price target on shares of Encana from $12.00 to $13.00 and gave the company a “sector perform” rating in a research note on Thursday, October 19th. Barclays PLC reaffirmed an “overweight” rating and issued a $8.00 price target on shares of Encana in a research note on Saturday, July 22nd. Royal Bank Of Canada lifted their price target on shares of Encana from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Monday, September 25th. Finally, Zacks Investment Research raised shares of Encana from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Encana presently has a consensus rating of “Buy” and a consensus price target of $14.39.
Encana Co. (NYSE ECA) opened at $11.85 on Friday. Encana Co. has a twelve month low of $8.01 and a twelve month high of $13.85. The firm has a market cap of $11,360.00, a PE ratio of 29.73, a P/E/G ratio of 3.35 and a beta of 2.17. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.60.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.51%. The ex-dividend date is Thursday, December 14th. Encana’s dividend payout ratio (DPR) is presently 7.50%.
Encana Company 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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