Public Sector Pension Investment Board raised its position in shares of Encana Corporation (NYSE:ECA) (TSE:ECA) by 4.9% during the fourth quarter, Holdings Channel reports. The firm owned 1,692,136 shares of the company’s stock after buying an additional 78,600 shares during the period. Public Sector Pension Investment Board owned 0.17% of Encana Corporation worth $19,886,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. FMR LLC boosted its stake in shares of Encana Corporation by 739.9% in the fourth quarter. FMR LLC now owns 20,771,231 shares of the company’s stock worth $243,813,000 after buying an additional 18,298,176 shares during the period. Vanguard Group Inc. boosted its stake in shares of Encana Corporation by 9.8% in the second quarter. Vanguard Group Inc. now owns 17,708,640 shares of the company’s stock worth $137,950,000 after buying an additional 1,585,668 shares during the period. CIBC World Markets Inc. boosted its stake in shares of Encana Corporation by 20.4% in the third quarter. CIBC World Markets Inc. now owns 14,613,153 shares of the company’s stock worth $153,000,000 after buying an additional 2,474,832 shares during the period. TD Asset Management Inc. boosted its stake in shares of Encana Corporation by 4.0% in the third quarter. TD Asset Management Inc. now owns 7,780,681 shares of the company’s stock worth $81,167,000 after buying an additional 295,894 shares during the period. Finally, Contrarius Investment Management Ltd acquired a new stake in shares of Encana Corporation during the third quarter worth approximately $60,448,000. Hedge funds and other institutional investors own 64.57% of the company’s stock.

Institutional Ownership by Quarter for Encana Corporation (NYSE:ECA)

Encana Corporation (NYSE:ECA) traded down 2.66% during midday trading on Thursday, hitting $12.43. 23,372,906 shares of the stock traded hands. Encana Corporation has a 12 month low of $3.00 and a 12 month high of $13.85. The stock’s market cap is $12.09 billion. The company has a 50-day moving average of $12.76 and a 200-day moving average of $11.12.

Encana Corporation (NYSE:ECA) last posted its quarterly earnings results on Thursday, February 16th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. Encana Corporation had a positive return on equity of 1.79% and a negative net margin of 40.77%. During the same quarter in the prior year, the business posted $0.13 EPS. On average, equities research analysts anticipate that Encana Corporation will post $0.02 earnings per share for the current year.

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ECA has been the topic of a number of research reports. Vetr upgraded shares of Encana Corporation from a “sell” rating to a “hold” rating and set a $11.87 target price on the stock in a report on Monday, December 19th. J P Morgan Chase & Co restated a “strong-buy” rating on shares of Encana Corporation in a report on Thursday. TD Securities cut shares of Encana Corporation from a “buy” rating to a “hold” rating in a report on Friday, January 27th. KLR Group upgraded shares of Encana Corporation from a “hold” rating to a “buy” rating and boosted their target price for the company from $12.00 to $14.00 in a report on Monday, November 7th. Finally, Zacks Investment Research upgraded shares of Encana Corporation from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $13.82.

Encana Corporation Company Profile

Encana Corp is a Canada-based energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). 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.

5 Day Chart for NYSE:ECA

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