Nexus Investment Management buys $6,617,131 stake in Encana Corporation (USA) (ECA)

Encana Corporation (USA) (ECA) : Nexus Investment Management scooped up 1,694 additional shares in Encana Corporation (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 597,214 shares of Encana Corporation (USA) which is valued at $6,617,131.Encana Corporation (USA) makes up approximately 1.22% of Nexus Investment Management’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc boosted its stake in ECA in the latest quarter, The investment management firm added 367,512 additional shares and now holds a total of 5,253,925 shares of Encana Corporation (USA) which is valued at $58,213,489. Encana Corporation (USA) makes up approx 0.06% of Legal General Group Plc’s portfolio.Advisory Services Network reduced its stake in ECA by selling 169 shares or 12.65% in the most recent quarter. The Hedge Fund company now holds 1,167 shares of ECA which is valued at $12,674.First Mercantile Trust Co reduced its stake in ECA by selling 55,900 shares or 48.86% in the most recent quarter. The Hedge Fund company now holds 58,500 shares of ECA which is valued at $635,310. Encana Corporation (USA) makes up approx 0.09% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in ECA in the latest quarter, The investment management firm added 85,116 additional shares and now holds a total of 231,104 shares of Encana Corporation (USA) which is valued at $2,525,967. Encana Corporation (USA) makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Encana Corporation (USA) closed down -0.01 points or -0.09% at $11.08 with 1,56,03,212 shares getting traded on Tuesday. Post opening the session at $11.19, the shares hit an intraday low of $10.91 and an intraday high of $11.19 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

Many Wall Street Analysts have commented on Encana Corporation (USA). Company shares were Upgraded by Barclays on Oct 11, 2016 to ” Overweight”, Firm has raised the Price Target to $ 14 from a previous price target of $10 .Encana Corporation (USA) was Downgraded by Societe Generale to ” Sell” on Oct 7, 2016. Encana Corporation (USA) was Upgraded by Citigroup to ” Buy” 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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