Steadfast Advisors Lp buys $9,036,768 stake in Encana Corporation (USA) (ECA)

Encana Corporation (USA) (ECA) : Steadfast Advisors Lp scooped up 307,994 additional shares in Encana Corporation (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 861,465 shares of Encana Corporation (USA) which is valued at $9,036,768.Encana Corporation (USA) makes up approximately 4.06% of Steadfast Advisors Lp’s portfolio.

Other Hedge Funds, Including , Cannell Peter B Co Inc reduced its stake in ECA by selling 10,872 shares or 5.29% in the most recent quarter. The Hedge Fund company now holds 194,722 shares of ECA which is valued at $2,042,634. Encana Corporation (USA) makes up approx 0.07% of Cannell Peter B Co Inc’s portfolio.Quadrature Capital Ltd boosted its stake in ECA in the latest quarter, The investment management firm added 346,118 additional shares and now holds a total of 507,990 shares of Encana Corporation (USA) which is valued at $5,394,854. Encana Corporation (USA) makes up approx 0.47% of Quadrature Capital Ltd’s portfolio.Wedbush Securities Inc boosted its stake in ECA in the latest quarter, The investment management firm added 4,926 additional shares and now holds a total of 23,445 shares of Encana Corporation (USA) which is valued at $229,761. Encana Corporation (USA) makes up approx 0.04% of Wedbush Securities Inc’s portfolio.Ubs Asset Management Americas Inc boosted its stake in ECA in the latest quarter, The investment management firm added 273,038 additional shares and now holds a total of 2,426,421 shares of Encana Corporation (USA) which is valued at $23,778,926. Encana Corporation (USA) makes up approx 0.03% of Ubs Asset Management Americas Inc’s portfolio.Montrusco Bolton Investments reduced its stake in ECA by selling 76,526 shares or 14.69% in the most recent quarter. The Hedge Fund company now holds 444,530 shares of ECA which is valued at $4,943,174. Encana Corporation (USA) makes up approx 0.31% of Montrusco Bolton Investments’s portfolio.

Encana Corporation (USA) opened for trading at $11.41 and hit $11.75 on the upside on Monday, eventually ending the session at $11.68, with a gain of 3.27% or 0.37 points. The heightened volatility saw the trading volume jump to 1,28,04,926 shares. Company has a market cap of $11,365 M.

On the company’s financial health, Encana Corporation (USA) reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.40 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $-0.03.Analysts expectations of $ 716.76.During the same quarter in the previous year, the company posted $-0.03 EPS.

Many Wall Street Analysts have commented on Encana Corporation (USA). Encana Corporation (USA) was Upgraded by KLR Group to ” Buy” on Nov 7, 2016. RBC Capital Mkts Upgraded Encana Corporation (USA) on Nov 4, 2016 to ” Outperform”, Price Target of the shares are set at $13.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 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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