United Services Automobile Association purchased a new stake in shares of Encana Corporation (NYSE:ECA) (TSE:ECA) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 14,372 shares of the oil and gas company’s stock, valued at approximately $168,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Gulf International Bank UK Ltd boosted its position in Encana Corporation by 5.0% in the first quarter. Gulf International Bank UK Ltd now owns 314,267 shares of the oil and gas company’s stock worth $3,676,000 after buying an additional 14,900 shares during the last quarter. Creative Planning boosted its position in Encana Corporation by 194.3% in the first quarter. Creative Planning now owns 139,310 shares of the oil and gas company’s stock worth $1,631,000 after buying an additional 91,977 shares during the last quarter. Rathbone Brothers plc boosted its position in Encana Corporation by 5.3% in the first quarter. Rathbone Brothers plc now owns 28,372 shares of the oil and gas company’s stock worth $331,000 after buying an additional 1,436 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Encana Corporation during the fourth quarter worth about $881,000. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Encana Corporation by 13.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,748,791 shares of the oil and gas company’s stock worth $32,304,000 after buying an additional 322,370 shares in the last quarter. 72.64% of the stock is currently owned by hedge funds and other institutional investors.
Encana Corporation (ECA) traded down 1.26% during midday trading on Friday, hitting $10.16. 15,066,171 shares of the company were exchanged. The firm has a market capitalization of $9.89 billion, a PE ratio of 12.11 and a beta of 2.02. Encana Corporation has a 1-year low of $7.59 and a 1-year high of $13.85. The stock has a 50 day moving average of $9.13 and a 200 day moving average of $10.87.
Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $773.19 million. During the same period in the prior year, the business earned $0.10 EPS. On average, equities 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. Stockholders of record on Friday, September 15th will be issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Thursday, September 14th. Encana Corporation’s dividend payout ratio is currently 6.98%.
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A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Encana Corporation from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Thursday. Desjardins reiterated a “hold” rating and issued a $13.50 price target on shares of Encana Corporation in a research report on Tuesday, July 25th. AltaCorp Capital upgraded shares of Encana Corporation from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 24th. KLR Group reiterated a “buy” rating and issued a $18.00 price target (up from $16.00) on shares of Encana Corporation in a research report on Monday, July 24th. Finally, Raymond James Financial, Inc. boosted their price objective on shares of Encana Corporation from $14.00 to $15.00 and gave the company a “strong-buy” rating in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $13.32.
About Encana Corporation
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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