Dimensional Fund Advisors LP lowered its position in Encana Corporation (NYSE:ECA) (TSE:ECA) by 26.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,354,428 shares of the oil and gas company’s stock after selling 1,207,893 shares during the period. Dimensional Fund Advisors LP owned approximately 0.34% of Encana Corporation worth $39,280,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Encana Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 22,637,700 shares of the oil and gas company’s stock worth $265,086,000 after buying an additional 994,074 shares during the period. FMR LLC increased its stake in Encana Corporation by 6.3% in the first quarter. FMR LLC now owns 22,080,449 shares of the oil and gas company’s stock worth $258,686,000 after buying an additional 1,309,218 shares during the period. Wellington Management Group LLP increased its stake in Encana Corporation by 337.3% in the first quarter. Wellington Management Group LLP now owns 12,168,568 shares of the oil and gas company’s stock worth $142,337,000 after buying an additional 9,385,795 shares during the period. TD Asset Management Inc. increased its stake in Encana Corporation by 0.6% in the first quarter. TD Asset Management Inc. now owns 7,510,431 shares of the oil and gas company’s stock worth $87,738,000 after buying an additional 42,875 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Encana Corporation by 15.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,123,827 shares of the oil and gas company’s stock worth $36,585,000 after buying an additional 411,437 shares during the period. 72.64% of the stock is owned by hedge funds and other institutional investors.
Encana Corporation (NYSE ECA) opened at 9.95 on Tuesday. Encana Corporation has a 52-week low of $7.50 and a 52-week high of $13.85. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of 11.86 and a beta of 2.02. The company has a 50 day moving average price of $9.02 and a 200-day moving average price of $10.98.
Encana Corporation (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.15. Encana Corporation had a return on equity of 6.37% and a net margin of 19.09%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $773.19 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. Equities research analysts anticipate that Encana Corporation will post $0.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.015 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.06 annualized dividend and a dividend yield of 0.60%. Encana Corporation’s dividend payout ratio (DPR) is currently 6.98%.
ECA has been the subject of a number of research analyst reports. GMP Securities reissued a “hold” rating and set a $13.25 target price on shares of Encana Corporation in a research report on Friday, March 31st. BidaskClub raised shares of Encana Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Scotiabank raised shares of Encana Corporation from an “underperform” rating to a “sector perform” rating and set a $11.00 target price for the company in a research report on Friday, June 30th. Royal Bank Of Canada downgraded shares of Encana Corporation to a “hold” rating in a research report on Wednesday, July 5th. Finally, Raymond James Financial, Inc. upgraded Encana Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the stock. Encana Corporation presently has an average rating of “Buy” and a consensus price target of $13.42.
Encana Corporation Company Profile
Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. The Company’s operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America.
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