Taylor Asset Management Inc buys $33.5 Million stake in Encana Corporation (USA) (ECA)

Encana Corporation (USA) (ECA) : Taylor Asset Management Inc scooped up 265,500 additional shares in Encana Corporation (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 4,980,100 shares of Encana Corporation (USA) which is valued at $33.5 Million.Encana Corporation (USA) makes up approximately 8.60% of Taylor Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Landscape Capital Management L.l.c. sold out all of its stake in ECA during the most recent quarter. The investment firm sold 33,364 shares of ECA which is valued $224,206. Icon Advisers Incco sold out all of its stake in ECA during the most recent quarter. The investment firm sold 499,700 shares of ECA which is valued $3.1 Million.Swiss National Bank boosted its stake in ECA in the latest quarter, The investment management firm added 855,700 additional shares and now holds a total of 4,569,600 shares of Encana Corporation (USA) which is valued at $28.5 Million. Encana Corporation (USA) makes up approx 0.05% of Swiss National Bank’s portfolio.First Mercantile Trust Co boosted its stake in ECA in the latest quarter, The investment management firm added 76,360 additional shares and now holds a total of 125,880 shares of Encana Corporation (USA) which is valued at $964,241. Encana Corporation (USA) makes up approx 0.12% of First Mercantile Trust Co’s portfolio.American Research Management reduced its stake in ECA by selling 1,500 shares or 58.82% in the most recent quarter. The Hedge Fund company now holds 1,050 shares of ECA which is valued at $8,043.

Encana Corporation (USA) opened for trading at $6.92 and hit $7.14 on the upside on Monday, eventually ending the session at $7.11, with a gain of 5.80% or 0.39 points. The heightened volatility saw the trading volume jump to 1,33,27,280 shares. Company has a market cap of $6,043 M.

On the company’s financial health, Encana Corporation (USA) reported $-0.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $-0.12.Analysts expectations of $ 754.79.During the same quarter in the previous year, the company posted $0.01 EPS.

Investors should note that on May 3, 2016, Encana Corporation (USA) announced a cash dividend of $0.0150. The company’s management has announced Jun 13, 2016 as the ex-dividend date and fixed the record date on Jun 15, 2016. The payable date has been fixed on Jun 30, 2016.

Many Wall Street Analysts have commented on Encana Corporation (USA). Company shares were Reiterated by RBC Capital Mkts on Feb 25, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 8 from a previous price target of $7 .Encana Corporation (USA) was Downgraded by CIBC to ” Sector Underperform” on Feb 25, 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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