Viking Global Investors Lp buys $910,798,446 stake in Encana Corporation (USA) (ECA)

Encana Corporation (USA) (ECA) : Viking Global Investors Lp scooped up 6,242,400 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 86,825,400 shares of Encana Corporation (USA) which is valued at $910,798,446.Encana Corporation (USA) makes up approximately 4.16% of Viking Global Investors Lp’s portfolio.

Other Hedge Funds, Including , Millennium Management boosted its stake in ECA in the latest quarter, The investment management firm added 9,961,625 additional shares and now holds a total of 19,321,026 shares of Encana Corporation (USA) which is valued at $202,677,563. Encana Corporation (USA) makes up approx 0.39% of Millennium Management’s portfolio.Engineers Gate Manager Lp reduced its stake in ECA by selling 288,781 shares or 75.62% in the most recent quarter. The Hedge Fund company now holds 93,084 shares of ECA which is valued at $988,552. Encana Corporation (USA) makes up approx 0.10% of Engineers Gate Manager Lp’s portfolio. Hap Trading added ECA to its portfolio by purchasing 542,701 company shares during the most recent quarter which is valued at $5,763,485. Encana Corporation (USA) makes up approx 0.30% of Hap Trading’s portfolio. Stratos Wealth Partners Ltd. added ECA to its portfolio by purchasing 20,721 company shares during the most recent quarter which is valued at $192,705. Encana Corporation (USA) makes up approx 0.01% of Stratos Wealth Partners Ltd.’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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