Encana Corporation (ECA) Stake Decreased by Magnetar Financial LLC

Magnetar Financial LLC reduced its position in Encana Corporation (NYSE:ECA) (TSE:ECA) by 7.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,775,100 shares of the oil and gas company’s stock after selling 288,229 shares during the period. Magnetar Financial LLC owned 0.39% of Encana worth $44,471,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ECA. Stevens Capital Management LP bought a new stake in shares of Encana in the 2nd quarter valued at about $102,000. Gotham Asset Management LLC bought a new stake in shares of Encana in the 2nd quarter valued at about $109,000. Equity Investment Corp Acquisition Inc boosted its holdings in shares of Encana by 5.4% in the 2nd quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 666 shares in the last quarter. Commerce Bank bought a new stake in shares of Encana in the 3rd quarter valued at about $118,000. Finally, First Allied Advisory Services Inc. boosted its holdings in shares of Encana by 13.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 13,351 shares of the oil and gas company’s stock valued at $119,000 after buying an additional 1,567 shares in the last quarter. Institutional investors and hedge funds own 68.98% of the company’s stock.

Encana Corporation (NYSE ECA) opened at $12.05 on Wednesday. Encana Corporation has a 1 year low of $8.01 and a 1 year high of $13.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market cap of $11,580.06, a P/E ratio of 29.75, a price-to-earnings-growth ratio of 3.45 and a beta of 2.16.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Thursday, December 14th. Encana’s dividend payout ratio is presently 7.60%.

A number of analysts have recently weighed in on ECA shares. Morgan Stanley raised their price target on shares of Encana from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 19th. Scotiabank raised their price target on shares of Encana from $12.00 to $13.00 and gave the company a “sector perform” rating in a report on Thursday, October 19th. Royal Bank Of Canada raised their price target on shares of Encana from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Monday, September 25th. Zacks Investment Research upgraded shares of Encana from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Tuesday, October 17th. Finally, Jefferies Group reiterated a “buy” rating and issued a $12.00 target price (down from $13.00) on shares of Encana in a research note on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $14.43.

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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.

Institutional Ownership by Quarter for Encana (NYSE:ECA)

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