FDx Advisors Inc. Takes Position in Encana Corp (ECA)

FDx Advisors Inc. acquired a new position in shares of Encana Corp (NYSE:ECA) (TSE:ECA) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 10,768 shares of the oil and gas company’s stock, valued at approximately $62,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. increased its holdings in Encana by 24.5% during the 3rd quarter. BlackRock Inc. now owns 27,563,490 shares of the oil and gas company’s stock worth $361,359,000 after purchasing an additional 5,428,023 shares in the last quarter. Vanguard Group Inc. increased its holdings in Encana by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 26,398,158 shares of the oil and gas company’s stock worth $346,081,000 after purchasing an additional 561,436 shares in the last quarter. Vanguard Group Inc increased its holdings in Encana by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 26,398,158 shares of the oil and gas company’s stock worth $346,081,000 after purchasing an additional 561,436 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Encana by 83.5% during the 4th quarter. Mackenzie Financial Corp now owns 21,176,898 shares of the oil and gas company’s stock worth $122,402,000 after purchasing an additional 9,633,795 shares in the last quarter. Finally, Steadfast Capital Management LP increased its holdings in Encana by 14.2% during the 3rd quarter. Steadfast Capital Management LP now owns 18,235,901 shares of the oil and gas company’s stock worth $239,073,000 after purchasing an additional 2,261,216 shares in the last quarter. 67.98% of the stock is owned by hedge funds and other institutional investors.

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In other news, CEO Douglas James Suttles acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 20th. The shares were acquired at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the purchase, the chief executive officer now owns 159,212 shares in the company, valued at $883,626.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fred J. Fowler acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 18th. The stock was purchased at an average price of $5.64 per share, for a total transaction of $56,400.00. Following the purchase, the director now owns 25,000 shares of the company’s stock, valued at approximately $141,000. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 23,700 shares of company stock worth $141,114. 0.09% of the stock is owned by company insiders.

Encana stock opened at $6.98 on Thursday. Encana Corp has a 12 month low of $5.00 and a 12 month high of $14.28. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $6.94 billion, a P/E ratio of 8.12, a PEG ratio of 0.51 and a beta of 2.09.

Encana (NYSE:ECA) (TSE:ECA) last posted its quarterly earnings data on Thursday, February 28th. The oil and gas company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.12 by $0.20. Encana had a positive return on equity of 9.53% and a negative net margin of 3.98%. On average, analysts predict that Encana Corp will post 0.79 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a $0.019 dividend. This is an increase from Encana’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.08 annualized dividend and a yield of 1.09%. Encana’s dividend payout ratio is presently 6.98%.

Several equities analysts have recently issued reports on ECA shares. Canaccord Genuity reaffirmed an “average” rating on shares of Encana in a report on Wednesday, November 7th. TD Securities raised Encana to a “buy” rating in a report on Thursday, December 20th. MKM Partners started coverage on Encana in a report on Wednesday, December 5th. They issued a “buy” rating and a $12.00 target price for the company. GMP Securities reaffirmed a “buy” rating on shares of Encana in a report on Thursday, November 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $10.00 target price on shares of Encana in a report on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $12.18.

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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. The company holds interests in various assets, including the Montney in northern 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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