Hillsdale Investment Management Inc. reduced its stake in shares of Encana Corp (NYSE:ECA) (TSE:ECA) by 31.5% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 194,200 shares of the oil and gas company’s stock after selling 89,400 shares during the period. Hillsdale Investment Management Inc.’s holdings in Encana Corp were worth $2,270,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Lone Pine Capital LLC bought a new stake in shares of Encana Corp during the fourth quarter valued at $245,230,000. FMR LLC boosted its stake in shares of Encana Corp by 739.9% in the fourth quarter. FMR LLC now owns 20,771,231 shares of the oil and gas company’s stock valued at $243,813,000 after buying an additional 18,298,176 shares during the last quarter. Norges Bank bought a new stake in shares of Encana Corp during the fourth quarter valued at $113,848,000. Contrarius Investment Management Ltd bought a new stake in shares of Encana Corp during the third quarter valued at $60,448,000. Finally, Guardian Capital LP bought a new stake in shares of Encana Corp during the fourth quarter valued at $53,700,000. 64.57% of the stock is owned by institutional investors.
Shares of Encana Corp (NYSE:ECA) traded up 4.81% on Friday, reaching $11.32. The company’s stock had a trading volume of 6,903,041 shares. The company’s 50 day moving average price is $11.22 and its 200 day moving average price is $11.71. Encana Corp has a 12-month low of $7.08 and a 12-month high of $13.85. The company’s market cap is $11.01 billion.
Encana Corp (NYSE:ECA) last posted its earnings results on Tuesday, May 2nd. The oil and gas company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. Encana Corp had a positive return on equity of 1.79% and a negative net margin of 40.77%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $789.49 million. During the same quarter in the prior year, the business earned ($0.15) EPS. Analysts forecast that Encana Corp will post $0.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.015 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.56%. Encana Corp’s dividend payout ratio (DPR) is -3.97%.
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Several equities research analysts have recently weighed in on ECA shares. Vetr raised Encana Corp from a “buy” rating to a “strong-buy” rating and set a $15.42 price target for the company in a research note on Monday, January 23rd. Canaccord Genuity reissued a “buy” rating and issued a $14.00 price target on shares of Encana Corp in a research note on Tuesday, April 11th. Barclays PLC reissued an “overweight” rating and issued a $12.00 price target (down previously from $15.00) on shares of Encana Corp in a research note on Saturday, April 22nd. Zacks Investment Research cut Encana Corp from a “buy” rating to a “hold” rating in a research note on Thursday, February 16th. Finally, Desjardins reaffirmed a “hold” rating and set a $13.75 target price on shares of Encana Corp in a research note on Thursday, February 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Encana Corp has an average rating of “Buy” and an average price target of $13.83.
In other news, Director Clayton Harvey Woitas bought 12,300 shares of Encana Corp stock in a transaction on Monday, March 13th. The shares were purchased at an average price of $10.65 per share, for a total transaction of $130,995.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 30,700 shares of company stock worth $325,049 in the last quarter. Company insiders own 0.26% of the company’s stock.
About Encana Corp
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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