Encana Corp (ECA) Stake Increased by Investec Asset Management LTD
Investec Asset Management LTD grew its stake in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 7.8% during the fourth quarter, Holdings Channel reports. The fund owned 1,153,099 shares of the oil and gas company’s stock after buying an additional 83,200 shares during the quarter. Investec Asset Management LTD’s holdings in Encana were worth $15,434,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in ECA. CIBC Asset Management Inc boosted its holdings in shares of Encana by 99.9% during the 3rd quarter. CIBC Asset Management Inc now owns 13,144,660 shares of the oil and gas company’s stock valued at $154,346,000 after acquiring an additional 6,568,955 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Encana by 481.4% during the 4th quarter. Mackenzie Financial Corp now owns 6,537,589 shares of the oil and gas company’s stock valued at $87,146,000 after acquiring an additional 5,413,151 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Encana by 58.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,053,257 shares of the oil and gas company’s stock valued at $80,690,000 after acquiring an additional 2,231,034 shares during the last quarter. Guardian Capital LP boosted its holdings in shares of Encana by 39.7% during the 3rd quarter. Guardian Capital LP now owns 7,302,829 shares of the oil and gas company’s stock valued at $85,750,000 after acquiring an additional 2,076,822 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of Encana by 1,297.6% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,011,683 shares of the oil and gas company’s stock valued at $23,698,000 after acquiring an additional 1,867,742 shares during the last quarter. 69.54% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Howard John Mayson bought 2,500 shares of the firm’s stock in a transaction on Thursday, March 1st. The shares were bought at an average price of $10.53 per share, for a total transaction of $26,325.00. Following the purchase, the director now owns 25,104 shares in the company, valued at $264,345.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Margaret Anne Mckenzie bought 10,000 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were purchased at an average price of $11.16 per share, for a total transaction of $111,600.00. Following the purchase, the director now owns 22,000 shares in the company, valued at approximately $245,520. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 23,500 shares of company stock worth $256,395. 0.08% of the stock is owned by company insiders.
Shares of Encana Corp (NYSE ECA) opened at $10.49 on Friday. Encana Corp has a one year low of $8.01 and a one year high of $14.31. The company has a market cap of $10,208.06, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 1.41 and a beta of 2.13. The company has a current ratio of 1.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.62.
Encana announced that its board has approved a share repurchase program on Thursday, February 15th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Wednesday, March 14th. Encana’s payout ratio is 7.14%.
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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.
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