Investec Asset Management LTD grew its position in shares of Encana Corporation (NYSE:ECA) (TSE:ECA) by 15.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,188,957 shares of the oil and gas company’s stock after acquiring an additional 162,543 shares during the period. Investec Asset Management LTD owned about 0.12% of Encana Corporation worth $10,446,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Encana Corporation by 0.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,898 shares of the oil and gas company’s stock worth $233,000 after acquiring an additional 124 shares during the period. Sentinel Trust Co. LBA grew its holdings in shares of Encana Corporation by 0.3% during the 2nd quarter. Sentinel Trust Co. LBA now owns 186,720 shares of the oil and gas company’s stock worth $1,644,000 after acquiring an additional 490 shares during the period. Wetherby Asset Management Inc. grew its holdings in shares of Encana Corporation by 2.1% during the 2nd quarter. Wetherby Asset Management Inc. now owns 24,141 shares of the oil and gas company’s stock worth $212,000 after acquiring an additional 497 shares during the period. Equity Investment Corp Acquisition Inc grew its holdings in shares of Encana Corporation by 5.4% during the 2nd quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock worth $114,000 after acquiring an additional 666 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Encana Corporation by 0.4% during the 1st quarter. Van ECK Associates Corp now owns 154,065 shares of the oil and gas company’s stock worth $1,804,000 after acquiring an additional 675 shares during the period. Hedge funds and other institutional investors own 66.75% of the company’s stock.
Encana Corporation (NYSE ECA) traded up 0.84% during trading on Tuesday, reaching $10.76. 3,169,311 shares of the company’s stock traded hands. The company has a market cap of $10.47 billion, a PE ratio of 12.82 and a beta of 2.06. The company has a 50 day moving average price of $9.55 and a 200-day moving average price of $10.11. Encana Corporation has a 12-month low of $8.01 and a 12-month high of $13.85.
Encana Corporation (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.15. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $773.19 million. During the same period last year, the business earned $0.10 EPS. On average, equities research analysts forecast that Encana Corporation will post $0.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.015 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.56%. Encana Corporation’s payout ratio is 6.98%.
ECA has been the topic of several recent research reports. TD Securities upgraded Encana Corporation from a “hold” rating to a “buy” rating and set a $11.50 price target on the stock in a research note on Friday, June 30th. UBS AG upgraded Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, July 5th. Raymond James Financial, Inc. increased their target price on Encana Corporation from $14.00 to $15.00 and gave the company a “strong-buy” rating in a research note on Monday, July 24th. GMP Securities reiterated a “buy” rating on shares of Encana Corporation in a research note on Wednesday, June 14th. Finally, Macquarie downgraded Encana Corporation from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $13.26.
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Encana Corporation 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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