Point View Wealth Management Inc. purchased a new stake in shares of Encana Corp (NYSE:ECA) (TSE:ECA) during the 1st quarter, Holdings Channel reports. The fund purchased 10,215 shares of the oil and gas company’s stock, valued at approximately $74,000.
Other institutional investors also recently made changes to their positions in the company. Lee Financial Co bought a new stake in Encana during the 1st quarter worth approximately $26,000. Shine Investment Advisory Services Inc. bought a new stake in Encana during the 1st quarter worth approximately $26,000. American Research & Management Co. bought a new stake in Encana during the 1st quarter worth approximately $27,000. Beutel Goodman & Co Ltd. bought a new stake in Encana during the 1st quarter worth approximately $31,000. Finally, TCI Wealth Advisors Inc. grew its holdings in Encana by 383.9% during the 1st quarter. TCI Wealth Advisors Inc. now owns 4,892 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 3,881 shares during the last quarter. 79.09% of the stock is currently owned by institutional investors.
Encana stock opened at $6.39 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. Encana Corp has a 12-month low of $5.00 and a 12-month high of $14.28. The firm has a market cap of $9.40 billion, a P/E ratio of 7.43, a P/E/G ratio of 0.89 and a beta of 2.05.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.0188 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.17%. Encana’s payout ratio is presently 9.30%.
In other Encana news, Director Steven W. Nance sold 16,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $7.40, for a total transaction of $118,400.00. Following the transaction, the director now owns 82,146 shares in the company, valued at $607,880.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Suzanne P. Nimocks acquired 10,000 shares of the stock in a transaction on Friday, March 8th. The shares were acquired at an average price of $6.65 per share, for a total transaction of $66,500.00. Following the acquisition, the director now owns 25,600 shares of the company’s stock, valued at approximately $170,240. The disclosure for this purchase can be found here. Insiders have purchased a total of 20,850 shares of company stock worth $139,582 in the last quarter. 0.11% of the stock is owned by corporate insiders.
A number of research analysts have recently issued reports on the stock. Raymond James restated an “outperform” rating and issued a $11.00 price target on shares of Encana in a research report on Wednesday, May 1st. TD Securities dropped their price target on shares of Encana from $11.00 to $10.50 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Sanford C. Bernstein downgraded shares of Encana from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. assumed coverage on shares of Encana in a research report on Monday, April 29th. They issued a “neutral” rating and a $12.00 price target on the stock. Finally, Goldman Sachs Group downgraded shares of Encana to a “buy” rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $11.79.
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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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