AGF Investments Inc. grew its stake in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 73.0% during the fourth quarter, HoldingsChannel reports. The firm owned 722,800 shares of the oil and gas company’s stock after purchasing an additional 305,000 shares during the quarter. AGF Investments Inc.’s holdings in Encana were worth $9,643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. boosted its stake in Encana by 49.5% during the second quarter. Alliancebernstein L.P. now owns 107,309 shares of the oil and gas company’s stock worth $944,000 after acquiring an additional 35,541 shares in the last quarter. Northern Trust Corp boosted its stake in Encana by 7.8% during the second quarter. Northern Trust Corp now owns 2,231,713 shares of the oil and gas company’s stock worth $19,639,000 after acquiring an additional 162,225 shares in the last quarter. Stifel Financial Corp boosted its stake in Encana by 24.9% during the second quarter. Stifel Financial Corp now owns 154,930 shares of the oil and gas company’s stock worth $1,369,000 after acquiring an additional 30,855 shares in the last quarter. Gotham Asset Management LLC bought a new stake in Encana during the second quarter worth about $109,000. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Encana by 7.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 107,286 shares of the oil and gas company’s stock worth $944,000 after acquiring an additional 7,358 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

ECA has been the topic of several research reports. Credit Suisse Group boosted their price objective on shares of Encana from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Thursday, October 19th. Morgan Stanley boosted their price objective on shares of Encana from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 19th. Citigroup boosted their price objective on shares of Encana from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Raymond James Financial boosted their price objective on shares of Encana from $15.00 to $16.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 19th. Finally, Scotiabank boosted their price objective on shares of Encana from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, seventeen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $15.39.

Encana Corp (NYSE ECA) opened at $11.25 on Thursday. The stock has a market cap of $10,344.21, a P/E ratio of 26.58, a PEG ratio of 1.44 and a beta of 2.07. Encana Corp has a 52 week low of $8.01 and a 52 week high of $14.31. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.60.

COPYRIGHT VIOLATION NOTICE: “AGF Investments Inc. Increases Stake in Encana Corp (ECA)” was originally posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this article on another website, it was stolen and republished in violation of U.S. and international copyright & trademark law. The legal version of this article can be viewed at https://theolympiareport.com/2018/02/15/agf-investments-inc-increases-stake-in-encana-corp-eca.html.

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.

Want to see what other hedge funds are holding ECA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Encana Corp (NYSE:ECA) (TSE:ECA).

Institutional Ownership by Quarter for Encana (NYSE:ECA)

Receive News & Ratings for Encana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encana and related companies with MarketBeat.com's FREE daily email newsletter.