Encana Corporation (NYSE:ECA) Position Boosted by Aperio Group LLC
Aperio Group LLC raised its position in shares of Encana Corporation (NYSE:ECA) (TSE:ECA) by 7.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 310,448 shares of the oil and gas company’s stock after buying an additional 22,434 shares during the period. Aperio Group LLC’s holdings in Encana Corporation were worth $2,732,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in ECA. Causeway Capital Management LLC boosted its stake in Encana Corporation by 95.2% in the first quarter. Causeway Capital Management LLC now owns 48,768,776 shares of the oil and gas company’s stock worth $571,082,000 after buying an additional 23,779,815 shares in the last quarter. BlackRock Inc. boosted its stake in Encana Corporation by 11,232.3% in the first quarter. BlackRock Inc. now owns 21,896,113 shares of the oil and gas company’s stock worth $256,403,000 after buying an additional 21,702,894 shares in the last quarter. Wellington Management Group LLP boosted 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 in the last quarter. Steadfast Capital Management LP boosted its stake in Encana Corporation by 12.2% in the first quarter. Steadfast Capital Management LP now owns 19,974,573 shares of the oil and gas company’s stock worth $233,902,000 after buying an additional 2,164,300 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Encana Corporation during the first quarter worth $21,564,000. 72.78% of the stock is owned by hedge funds and other institutional investors.
Encana Corporation (ECA) traded up 3.73% on Friday, hitting $9.73. The stock had a trading volume of 15,562,929 shares. Encana Corporation has a 12-month low of $7.70 and a 12-month high of $13.85. The company has a 50 day moving average of $9.16 and a 200 day moving average of $10.80. The company has a market capitalization of $9.47 billion, a PE ratio of 11.60 and a beta of 2.04.
Encana Corporation (NYSE:ECA) (TSE:ECA) last posted 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. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $773.19 million. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. During the same period in the prior year, the business posted $0.10 earnings per share. On average, equities analysts expect that Encana Corporation will post $0.50 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors 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 yield of 0.62%. Encana Corporation’s payout ratio is 6.98%.
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A number of equities research analysts recently weighed in on ECA shares. Jefferies Group LLC set a $14.00 price target on Encana Corporation and gave the company a “buy” rating in a report on Wednesday, May 17th. Canaccord Genuity reaffirmed a “buy” rating and set a $14.00 price target on shares of Encana Corporation in a report on Tuesday, April 11th. Raymond James Financial, Inc. started coverage on Encana Corporation in a report on Wednesday, May 31st. They set an “outperform” rating and a $15.00 price target for the company. Barclays PLC reaffirmed an “overweight” rating and set a $12.00 price target (down from $15.00) on shares of Encana Corporation in a report on Saturday, April 22nd. Finally, Scotiabank raised their price target on Encana Corporation from $11.00 to $12.00 and gave the company an “underperform” rating in a report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average 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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