Equity Investment Corp Acquisition Inc boosted its stake in Encana Corporation (NYSE:ECA) (TSE:ECA) by 5.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,996 shares of the oil and gas company’s stock after buying an additional 666 shares during the period. Equity Investment Corp Acquisition Inc’s holdings in Encana Corporation were worth $114,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in ECA. Capstone Asset Management Co. raised its stake in shares of Encana Corporation by 0.8% in the first quarter. Capstone Asset Management Co. now owns 81,900 shares of the oil and gas company’s stock valued at $959,000 after buying an additional 670 shares during the period. Candriam Luxembourg S.C.A. raised its stake in shares of Encana Corporation by 23.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 284,512 shares of the oil and gas company’s stock valued at $3,324,000 after buying an additional 54,490 shares during the period. First Manhattan Co. raised its stake in shares of Encana Corporation by 288.7% in the first quarter. First Manhattan Co. now owns 103,320 shares of the oil and gas company’s stock valued at $1,081,000 after buying an additional 76,742 shares during the period. Howard Hughes Medical Institute raised its stake in shares of Encana Corporation by 0.3% in the first quarter. Howard Hughes Medical Institute now owns 144,220 shares of the oil and gas company’s stock valued at $1,689,000 after buying an additional 389 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Encana Corporation by 103.9% in the first quarter. Russell Investments Group Ltd. now owns 2,952,759 shares of the oil and gas company’s stock valued at $34,431,000 after buying an additional 1,504,444 shares during the period. 73.08% of the stock is owned by institutional investors.
Encana Corporation (ECA) traded up 0.22% during mid-day trading on Tuesday, reaching $9.00. The company had a trading volume of 390,702 shares. The firm has a 50-day moving average of $9.49 and a 200 day moving average of $10.45. The company has a market capitalization of $8.76 billion, a PE ratio of 10.73 and a beta of 2.04. Encana Corporation has a 1-year low of $8.01 and a 1-year high of $13.85.
Encana Corporation (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings results 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 6.25% and a net margin of 19.09%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $773.19 million. During the same period in the prior year, the company earned $0.10 earnings per share. On average, analysts predict that Encana Corporation will post $0.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, September 14th. Encana Corporation’s payout ratio is presently 6.98%.
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ECA has been the subject of several recent research reports. TD Securities set a $12.50 price objective on Encana Corporation and gave the stock a “hold” rating in a report on Wednesday, May 3rd. Scotiabank raised their target price on Encana Corporation from $11.00 to $12.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 3rd. BMO Capital Markets set a $13.00 target price on Encana Corporation and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Jefferies Group LLC set a $14.00 target price on Encana Corporation and gave the stock a “buy” rating in a research note on Wednesday, May 17th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $14.00 target price on shares of Encana Corporation in a research note on Monday, May 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $13.32.
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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