Encana Corp (NYSE:ECA) Stake Lessened by First Trust Advisors LP

First Trust Advisors LP lowered its stake in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 15.5% in the first quarter, HoldingsChannel.com reports. The firm owned 616,058 shares of the oil and gas company’s stock after selling 112,943 shares during the period. First Trust Advisors LP’s holdings in Encana were worth $4,460,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ECA. SG Americas Securities LLC purchased a new position in shares of Encana during the 4th quarter worth approximately $101,000. Janney Montgomery Scott LLC boosted its position in shares of Encana by 24.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,928 shares of the oil and gas company’s stock worth $92,000 after purchasing an additional 3,166 shares during the period. BB&T Securities LLC boosted its position in shares of Encana by 89.3% during the 4th quarter. BB&T Securities LLC now owns 104,251 shares of the oil and gas company’s stock worth $602,000 after purchasing an additional 49,192 shares during the period. Pinnacle Associates Ltd. purchased a new position in shares of Encana during the 4th quarter worth approximately $84,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Encana during the 4th quarter worth approximately $8,672,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the stock. TheStreet raised shares of Encana from a “d+” rating to a “c+” rating in a research report on Thursday, March 14th. CSFB reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Encana in a research report on Thursday, March 7th. JPMorgan Chase & Co. assumed coverage on shares of Encana in a research report on Monday, April 29th. They set a “neutral” rating and a $12.00 price objective for the company. Cowen raised shares of Encana from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research report on Monday, March 11th. They noted that the move was a valuation call. Finally, Sanford C. Bernstein cut shares of Encana from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. Encana currently has a consensus rating of “Buy” and a consensus price target of $11.69.

In other news, CFO Corey Douglas Code acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was acquired at an average cost of $4.87 per share, with a total value of $48,700.00. Following the transaction, the chief financial officer now owns 42,463 shares in the company, valued at $206,794.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Steven W. Nance sold 16,000 shares of Encana stock in a transaction on Monday, April 1st. The stock was sold at an average price of $7.40, for a total transaction of $118,400.00. Following the sale, the director now directly owns 82,146 shares of the company’s stock, valued at $607,880.40. The disclosure for this sale can be found here. Insiders acquired a total of 96,450 shares of company stock valued at $514,338 in the last three months. 0.11% of the stock is currently owned by corporate insiders.

Shares of ECA stock opened at $4.77 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. Encana Corp has a 52 week low of $4.76 and a 52 week high of $14.28. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 6.10, a price-to-earnings-growth ratio of 1.00 and a beta of 2.14.

Encana (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.05. Encana had a net margin of 11.48% and a return on equity of 10.79%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company posted $0.16 EPS. As a group, equities analysts forecast that Encana Corp will post 0.79 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.0188 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.08 annualized dividend and a yield of 1.57%. Encana’s dividend payout ratio is presently 9.30%.

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About Encana

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.

Further Reading: Why is insider trading harmful?

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Institutional Ownership by Quarter for Encana (NYSE:ECA)

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