Cibc Asset Management Inc Lowers stake in Encana Corporation (USA) (ECA)

Encana Corporation (USA) (ECA) : Cibc Asset Management Inc reduced its stake in Encana Corporation (USA) by 28.0% during the most recent quarter end. The investment management company now holds a total of 6,119,632 shares of Encana Corporation (USA) which is valued at $50,180,982 after selling 2,379,985 shares in Encana Corporation (USA) , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Encana Corporation (USA) makes up approximately 0.37% of Cibc Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Wedbush Securities Inc reduced its stake in ECA by selling 3,814 shares or 17.08% in the most recent quarter. The Hedge Fund company now holds 18,519 shares of ECA which is valued at $151,856. Encana Corporation (USA) makes up approx 0.02% of Wedbush Securities Inc’s portfolio.Advisory Services Network boosted its stake in ECA in the latest quarter, The investment management firm added 299 additional shares and now holds a total of 1,336 shares of Encana Corporation (USA) which is valued at $10,207.Simplex Trading boosted its stake in ECA in the latest quarter, The investment management firm added 81,405 additional shares and now holds a total of 101,749 shares of Encana Corporation (USA) which is valued at $810,940. Encana Corporation (USA) makes up approx 0.10% of Simplex Trading’s portfolio. Kistler-tiffany Companies added ECA to its portfolio by purchasing 49 company shares during the most recent quarter which is valued at $374.

Encana Corporation (USA) opened for trading at $8.51 and hit $8.95 on the upside on Monday, eventually ending the session at $8.71, with a gain of 4.44% or 0.37 points. The heightened volatility saw the trading volume jump to 1,20,36,175 shares. Company has a market cap of $7,403 M.

On the company’s financial health, Encana Corporation (USA) reported $0.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $-0.09.Analysts expectations of $ 768.61.During the same quarter in the previous year, the company posted $-0.20 EPS.

Investors should note that on Jul 21, 2016, Encana Corporation (USA) announced a cash dividend of $0.0150. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.

Encana Corporation is engaged in the business of the exploration development production and marketing of natural gas oil and natural gas liquids (NGLs). The Company operates through three business segments: Canadian Operations which includes the exploration for development of and production of natural gas oil and NGLs and other related activities within Canada; USA Operations which includes the exploration for development of and production of natural gas oil and NGLs and other related activities within the United States and Market Optimization which includes third-party purchases and sales of products that provide operational flexibility for transportation commitments product type delivery points and customer diversification. Market Optimization sells all of the Company’s upstream production to third-party customers. Its growth assets include Permian; Tuscaloosa Marine Shale; Eagle Ford; Montney; Duvernay; DJ Basin and San Juan.

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