First Mercantile Trust Co Lowers stake in Encana Corporation (USA) (ECA)

Encana Corporation (USA) (ECA) : First Mercantile Trust Co reduced its stake in Encana Corporation (USA) by 48.86% during the most recent quarter end. The investment management company now holds a total of 58,500 shares of Encana Corporation (USA) which is valued at $635,310 after selling 55,900 shares in Encana Corporation (USA) , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Encana Corporation (USA) makes up approximately 0.09% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , 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.Cardinal Capital Management boosted its stake in ECA in the latest quarter, The investment management firm added 550 additional shares and now holds a total of 3,550 shares of Encana Corporation (USA) which is valued at $38,802.Foundation Resource Management Inc reduced its stake in ECA by selling 4,300 shares or 0.3% in the most recent quarter. The Hedge Fund company now holds 1,435,507 shares of ECA which is valued at $15,690,092. Encana Corporation (USA) makes up approx 2.83% of Foundation Resource Management Inc’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. Eqis Capital Management added ECA to its portfolio by purchasing 16,374 company shares during the most recent quarter which is valued at $178,968. Encana Corporation (USA) makes up approx 0.01% of Eqis Capital Management’s portfolio.

Encana Corporation (USA) opened for trading at $10.71 and hit $10.98 on the upside on Friday, eventually ending the session at $10.86, with a gain of 1.21% or 0.13 points. The heightened volatility saw the trading volume jump to 1,87,37,804 shares. Company has a market cap of $9,230 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.

Many Wall Street Analysts have commented on Encana Corporation (USA). 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. Company shares were Reiterated by RBC Capital Mkts on Sep 12, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 10 from a previous price target of $9 .

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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