Sentinel Trust Co. LBA lowered its stake in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 37.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 328,255 shares of the oil and gas company’s stock after selling 195,760 shares during the period. Encana makes up approximately 1.0% of Sentinel Trust Co. LBA’s portfolio, making the stock its 26th biggest holding. Sentinel Trust Co. LBA’s holdings in Encana were worth $4,283,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. HRT Financial LLC acquired a new position in Encana during the 2nd quarter valued at about $228,000. Putnam Investments LLC boosted its stake in Encana by 4.8% during the 2nd quarter. Putnam Investments LLC now owns 967,998 shares of the oil and gas company’s stock valued at $12,633,000 after purchasing an additional 44,670 shares during the last quarter. HPM Partners LLC acquired a new position in Encana during the 2nd quarter valued at about $393,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Encana by 22.3% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 61,900 shares of the oil and gas company’s stock valued at $808,000 after purchasing an additional 11,300 shares during the last quarter. Finally, Colony Group LLC acquired a new position in Encana during the 2nd quarter valued at about $1,018,000. Institutional investors and hedge funds own 66.74% of the company’s stock.

Encana stock opened at $12.17 on Friday. Encana Corp has a 52 week low of $9.79 and a 52 week high of $14.31. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.57. The company has a market cap of $11.71 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.67 and a beta of 2.01.

Encana (NYSE:ECA) (TSE:ECA) last posted its earnings results on Wednesday, August 1st. The oil and gas company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.09. The firm had revenue of $983.00 million for the quarter, compared to analysts’ expectations of $1.14 billion. Encana had a net margin of 1.49% and a return on equity of 7.30%. sell-side analysts expect that Encana Corp will post 0.74 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend is Thursday, September 13th. This is a boost from Encana’s previous quarterly dividend of $0.02. Encana’s payout ratio is 13.95%.

A number of equities analysts have issued reports on ECA shares. TD Securities set a $17.00 price target on Encana and gave the company a “buy” rating in a research note on Wednesday, August 1st. Desjardins reissued a “buy” rating and set a $17.00 target price on shares of Encana in a research report on Friday, July 27th. Zacks Investment Research cut shares of Encana from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. ValuEngine cut shares of Encana from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Finally, Canaccord Genuity reissued a “buy” rating and set a $19.00 target price on shares of Encana in a research report on Thursday, July 12th. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.08.

About Encana

Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company holds interests in various assets, including the Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.

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Institutional Ownership by Quarter for Encana (NYSE:ECA)

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