Encana Corp (ECA) Stock Price Declined While Taylor Asset Management INC Has Trimmed Its Position by $3.20 Million

September 30, 2018 - By Lisa Delgado

Encana Corporation (NYSE:ECA) Logo

Taylor Asset Management Inc decreased its stake in Encana Corp (ECA) by 10.31% based on its latest 2018Q2 regulatory filing with the SEC. Taylor Asset Management Inc sold 246,200 shares as the company’s stock declined 4.14% while stock markets rallied. The hedge fund held 2.14M shares of the oil & gas production company at the end of 2018Q2, valued at $27.94 million, down from 2.39M at the end of the previous reported quarter. Taylor Asset Management Inc who had been investing in Encana Corp for a number of months, seems to be less bullish one the $12.44B market cap company. The stock decreased 0.30% or $0.04 during the last trading session, reaching $13.11. About 8.16M shares traded or 6.44% up from the average. Encana Corporation (NYSE:ECA) has risen 27.41% since September 30, 2017 and is uptrending. It has outperformed by 11.79% the S&P500.

Taylor Asset Management Inc, which manages about $216.00 million US Long portfolio, upped its stake in Mckesson Corp (NYSE:MCK) by 25,800 shares to 102,100 shares, valued at $13.62 million in 2018Q2, according to the filing.

Analysts await Encana Corporation (NYSE:ECA) to report earnings on November, 14. They expect $0.15 EPS, up 650.00 % or $0.13 from last year’s $0.02 per share. ECA’s profit will be $142.31 million for 21.85 P/E if the $0.15 EPS becomes a reality. After $0.21 actual EPS reported by Encana Corporation for the previous quarter, Wall Street now forecasts -28.57 % negative EPS growth.

Another recent and important Encana Corporation (NYSE:ECA) news was published by 247Wallst.com which published an article titled: “Merrill Lynch Shows Why Encana Could See 60% Upside” on September 18, 2018.

Encana Corporation (NYSE:ECA) Ratings Coverage

Among 2 analysts covering Encana Corporation (NYSE:ECA), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Encana Corporation had 3 analyst reports since April 16, 2018 according to SRatingsIntel. Morgan Stanley maintained Encana Corporation (NYSE:ECA) rating on Wednesday, May 23. Morgan Stanley has “Overweight” rating and $20 target. As per Monday, April 16, the company rating was maintained by Morgan Stanley. The firm has “Hold” rating by Tudor Pickering given on Thursday, May 10.

Encana Corporation (NYSE:ECA) Ratings Chart

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