First Manhattan Co. maintained its stake in Encana Corporation (NYSE:ECA) (TSE:ECA) during the second quarter, Holdings Channel reports. The firm owned 26,578 shares of the oil and gas company’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Encana Corporation were worth $233,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the company. Causeway Capital Management LLC increased its position in shares of 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 valued at $571,082,000 after buying an additional 23,779,815 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 valued at $265,086,000 after buying an additional 994,074 shares in the last quarter. FMR LLC increased its position in shares of 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 valued at $258,686,000 after buying an additional 1,309,218 shares in the last quarter. BlackRock Inc. increased its position in shares of 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 valued at $256,403,000 after buying an additional 21,702,894 shares in the last quarter. Finally, Steadfast Capital Management LP increased its position in shares of 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 valued at $233,902,000 after buying an additional 2,164,300 shares in the last quarter. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Encana Corporation (NYSE ECA) opened at 9.56 on Friday. Encana Corporation has a 12 month low of $8.01 and a 12 month high of $13.85. The company’s 50 day moving average is $9.34 and its 200-day moving average is $10.68. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 11.39 and a beta of 2.04.

Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.03 by $0.15. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $773.19 million. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. During the same quarter in the previous year, the firm earned $0.10 EPS. On average, analysts expect that Encana Corporation will post $0.50 earnings per share for the current fiscal year.

The business also recently declared 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. This represents a $0.06 annualized dividend and a yield of 0.63%. The ex-dividend date is Thursday, September 14th. Encana Corporation’s payout ratio is presently 6.98%.

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Several research analysts have recently issued reports on the stock. Jefferies Group LLC set a $14.00 target price on shares of Encana Corporation and gave the stock a “buy” rating in a research note on Wednesday, May 17th. Barclays PLC reiterated an “overweight” rating and issued a $12.00 target price (down previously from $15.00) on shares of Encana Corporation in a research note on Saturday, April 22nd. Royal Bank Of Canada reiterated a “buy” rating and issued a $14.00 target price on shares of Encana Corporation in a research note on Monday, May 29th. Desjardins set a $13.00 target price on shares of Encana Corporation and gave the stock a “hold” rating in a research note on Thursday, April 20th. Finally, BMO Capital Markets set a $13.00 target price on shares of Encana Corporation and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and four have issued a strong buy rating to the stock. Encana Corporation presently has a consensus rating of “Buy” and a consensus target price 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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Institutional Ownership by Quarter for Encana Corporation (NYSE:ECA)

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