Steadfast Capital Management LP Lowered Encana (ECA) Stake by $54.81 Million; As Marine Prods Com (MPX) Market Valuation Declined, Holder Seizert Capital Partners Cut Its Position

May 27, 2018 - By Peter Erickson

Encana Corporation (NYSE:ECA) Logo

Seizert Capital Partners Llc decreased its stake in Marine Prods Corp Com (MPX) by 75.95% based on its latest 2017Q4 regulatory filing with the SEC. Seizert Capital Partners Llc sold 103,287 shares as the company’s stock declined 5.27% with the market. The institutional investor held 32,711 shares of the marine transportation company at the end of 2017Q4, valued at $417,000, down from 135,998 at the end of the previous reported quarter. Seizert Capital Partners Llc who had been investing in Marine Prods Corp Com for a number of months, seems to be less bullish one the $559.97M market cap company. The stock increased 0.31% or $0.05 during the last trading session, reaching $16.2. About 15,857 shares traded. Marine Products Corporation (NYSE:MPX) has risen 27.31% since May 27, 2017 and is uptrending. It has outperformed by 15.76% the S&P500.

Robert Pitts decreased its stake in Encana Corp (ECA) by 18.41% based on its latest 2017Q4 regulatory filing with the SEC. Steadfast Capital Management Lp sold 4.22 million shares as the company’s stock declined 11.75% with the market. The hedge fund run by Robert Pitts held 18.68 million shares of the oil & gas production company at the end of 2017Q4, valued at $249.07 million, down from 22.90 million at the end of the previous reported quarter. Steadfast Capital Management Lp who had been investing in Encana Corp for a number of months, seems to be less bullish one the $12.12B market cap company. The stock decreased 2.47% or $0.32 during the last trading session, reaching $12.64. About 11.14 million shares traded or 15.75% up from the average. Encana Corporation (NYSE:ECA) has risen 5.00% since May 27, 2017 and is uptrending. It has underperformed by 6.55% the S&P500.

Steadfast Capital Management Lp, which manages about $8.17B and $6.39 billion US Long portfolio, upped its stake in Alphabet Inc by 66,207 shares to 286,531 shares, valued at $299.83M in 2017Q4, according to the filing. It also increased its holding in Steel Dynamics Inc (NASDAQ:STLD) by 1.56 million shares in the quarter, for a total of 4.57 million shares, and has risen its stake in Ulta Beauty Inc (NASDAQ:ULTA).

Analysts await Encana Corporation (NYSE:ECA) to report earnings on July, 20. They expect $0.10 earnings per share, down 44.44% or $0.08 from last year’s $0.18 per share. ECA’s profit will be $95.90M for 31.60 P/E if the $0.10 EPS becomes a reality. After $0.16 actual earnings per share reported by Encana Corporation for the previous quarter, Wall Street now forecasts -37.50% negative EPS growth.

Among 29 analysts covering Encana Corporation (NYSE:ECA), 26 have Buy rating, 1 Sell and 2 Hold. Therefore 90% are positive. Encana Corporation had 131 analyst reports since July 21, 2015 according to SRatingsIntel. Deutsche Bank upgraded the shares of ECA in report on Wednesday, October 14 to “Buy” rating. As per Thursday, October 6, the company rating was upgraded by GMP Securities. The firm has “Market Perform” rating by FirstEnergy Capital given on Tuesday, July 26. The rating was maintained by RBC Capital Markets on Thursday, February 25 with “Sector Perform”. On Friday, January 12 the stock rating was upgraded by Desjardins Securities to “Buy”. The stock has “Buy” rating by Canaccord Genuity on Wednesday, September 27. As per Sunday, July 23, the company rating was maintained by Altacorp. The stock has “Buy” rating by Canaccord Genuity on Tuesday, October 3. As per Wednesday, August 16, the company rating was maintained by Canaccord Genuity. RBC Capital Markets maintained the shares of ECA in report on Monday, May 29 with “Buy” rating.

More news for Encana Corporation (NYSE:ECA) were recently published by: Seekingalpha.com, which released: “Encana slips despite Q1 earnings beat, higher production” on May 01, 2018. Seekingalpha.com‘s article titled: “Encana (ECA) Q1 2018 Results – Earnings Call Transcript” and published on May 01, 2018 is yet another important article.

Among 2 analysts covering Marine Products (NYSE:MPX), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. Marine Products had 6 analyst reports since April 28, 2016 according to SRatingsIntel. The stock of Marine Products Corporation (NYSE:MPX) has “Neutral” rating given on Thursday, April 26 by B. Riley & Co. The firm earned “Neutral” rating on Thursday, October 26 by B. Riley & Co. The stock has “Neutral” rating by B. Riley & Co on Thursday, April 28.

Analysts await Marine Products Corporation (NYSE:MPX) to report earnings on July, 25. They expect $0.21 earnings per share, up 16.67% or $0.03 from last year’s $0.18 per share. MPX’s profit will be $7.26M for 19.29 P/E if the $0.21 EPS becomes a reality. After $0.22 actual earnings per share reported by Marine Products Corporation for the previous quarter, Wall Street now forecasts -4.55% negative EPS growth.

Another recent and important Marine Products Corporation (NYSE:MPX) news was published by Finance.Yahoo.com which published an article titled: “5 Breakout Stocks Offering Extraordinary Returns” on May 25, 2018.

Since May 11, 2018, it had 0 buys, and 3 sales for $187,090 activity.

Investors sentiment increased to 1.41 in 2017 Q4. Its up 0.73, from 0.68 in 2017Q3. It increased, as 4 investors sold MPX shares while 13 reduced holdings. 7 funds opened positions while 17 raised stakes. 5.00 million shares or 3.53% less from 5.19 million shares in 2017Q3 were reported. Rhumbline Advisers holds 0% or 11,416 shares in its portfolio. Blackrock reported 0% stake. Moreover, Chicago Equity Partners Ltd Limited Liability Company has 0.01% invested in Marine Products Corporation (NYSE:MPX) for 21,770 shares. Denali Advisors Ltd Llc holds 166 shares. Deutsche Comml Bank Ag owns 27,692 shares. Schwab Charles Invest Mngmt stated it has 29,416 shares or 0% of all its holdings. Zacks Investment Management holds 81,907 shares or 0.02% of its portfolio. 1,708 are owned by Bnp Paribas Arbitrage Sa. 812,400 were accumulated by Teton Advsr. New York State Common Retirement Fund accumulated 9,800 shares. Pnc Finance Svcs Grp Inc holds 0% or 16,385 shares. Ameritas Inv Prtn reported 813 shares. Inc owns 5,270 shares for 0% of their portfolio. Morgan Stanley, a New York-based fund reported 101,710 shares. Jpmorgan Chase And accumulated 0% or 1,688 shares.

Marine Products Corporation (NYSE:MPX) Institutional Positions Chart

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