The Sumitomo Mitsui Trust Holdings Inc. Raises Stake in Encana Corp. (ECA)

The Sumitomo Mitsui Trust Holdings Inc. Raises Stake in Encana Corp. (ECA)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in Encana Corp. (NYSE:ECA) (TSE:ECA) by 6.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,713,603 shares of the company’s stock after buying an additional 161,105 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.32% of Encana Corp. worth $28,363,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. boosted its stake in shares of Encana Corp. by 0.3% in the second quarter. Wetherby Asset Management Inc. now owns 23,693 shares of the company’s stock worth $185,000 after buying an additional 66 shares during the period. Murphy Pohlad Asset Management LLC boosted its stake in shares of Encana Corp. by 3.2% in the third quarter. Murphy Pohlad Asset Management LLC now owns 12,070 shares of the company’s stock worth $126,000 after buying an additional 375 shares during the period. Highstreet Asset Management Inc. boosted its stake in shares of Encana Corp. by 0.9% in the third quarter. Highstreet Asset Management Inc. now owns 79,527 shares of the company’s stock worth $831,000 after buying an additional 742 shares during the period. Nexus Investment Management Inc. boosted its stake in shares of Encana Corp. by 0.3% in the third quarter. Nexus Investment Management Inc. now owns 597,214 shares of the company’s stock worth $6,242,000 after buying an additional 1,694 shares during the period. Finally, Parkwood LLC boosted its stake in shares of Encana Corp. by 1.2% in the third quarter. Parkwood LLC now owns 408,290 shares of the company’s stock worth $4,275,000 after buying an additional 4,796 shares during the period. Institutional investors and hedge funds own 64.34% of the company’s stock.

Encana Corp. (NYSE:ECA) opened at 13.10 on Thursday. The company has a 50-day moving average price of $12.58 and a 200-day moving average price of $10.41. Encana Corp. has a 1-year low of $3.00 and a 1-year high of $13.49. The firm’s market capitalization is $12.75 billion.

Encana Corp. (NYSE:ECA) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. Encana Corp. had a negative net margin of 40.77% and a positive return on equity of 1.79%. During the same period last year, the firm posted ($0.03) earnings per share. On average, equities research analysts predict that Encana Corp. will post $0.03 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Tuesday, December 13th. Encana Corp.’s payout ratio is presently -3.97%.

ECA has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Encana Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 21st. Nomura reissued a “buy” rating and set a $17.00 price target on shares of Encana Corp. in a research note on Monday, September 26th. Deutsche Bank AG reissued a “buy” rating and set a $13.00 price target (down previously from $15.00) on shares of Encana Corp. in a research note on Thursday, September 29th. Citigroup Inc. raised Encana Corp. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $10.00 to $13.00 in a research note on Friday, September 30th. Finally, CIBC raised Encana Corp. to a “sector perform” rating and increased their price target for the stock from $8.00 to $12.00 in a research note on Friday, September 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $13.46.

Encana Corp. Company Profile

Encana Corp is a Canada-based energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). 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.

Want to see what other hedge funds are holding ECA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Encana Corp. (NYSE:ECA) (TSE:ECA).

Related posts

Leave a Comment