Connor Clark & Lunn Investment Management Ltd. lowered its holdings in Encana Corp (NYSE:ECA) (TSE:ECA) by 33.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,551,590 shares of the oil and gas company’s stock after selling 3,232,006 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Encana were worth $47,471,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of ECA. Lee Financial Co bought a new stake in shares of Encana during the first quarter worth $26,000. Shine Investment Advisory Services Inc. bought a new stake in shares of Encana during the first quarter worth $26,000. American Research & Management Co. bought a new stake in shares of Encana during the first quarter worth $27,000. Beutel Goodman & Co Ltd. bought a new stake in shares of Encana during the first quarter worth $31,000. Finally, TCI Wealth Advisors Inc. raised its position in shares of Encana by 383.9% during the first quarter. TCI Wealth Advisors Inc. now owns 4,892 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 3,881 shares during the last quarter. 54.21% of the stock is currently owned by institutional investors.

In other Encana news, Director Steven W. Nance sold 16,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $7.40, for a total value of $118,400.00. Following the completion of the sale, the director now directly owns 82,146 shares in the company, valued at $607,880.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Gerard Mcallister purchased 5,200 shares of the stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of $6.97 per share, with a total value of $36,244.00. Following the completion of the acquisition, the chief operating officer now directly owns 36,377 shares of the company’s stock, valued at $253,547.69. The disclosure for this purchase can be found here. Insiders purchased 20,850 shares of company stock valued at $139,582 in the last quarter. 0.11% of the stock is currently owned by corporate insiders.

ECA has been the subject of a number of recent research reports. Barclays initiated coverage on Encana in a research report on Wednesday, April 3rd. They set an “overweight” rating and a $11.00 target price for the company. Macquarie upgraded Encana from a “neutral” rating to an “outperform” rating and set a $7.28 target price for the company in a research report on Monday, March 4th. CIBC upgraded Encana from a “sector underperform” rating to a “neutral” rating in a research report on Thursday, January 31st. Goldman Sachs Group initiated coverage on Encana in a research report on Tuesday, March 5th. They set a “buy” rating and a $9.00 target price for the company. Finally, Cowen upgraded Encana from a “market perform” rating to an “outperform” rating and set a $10.00 target price for the company in a research report on Monday, March 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $11.79.

NYSE ECA opened at $6.83 on Wednesday. The stock has a market capitalization of $9.55 billion, a P/E ratio of 7.94, a P/E/G ratio of 0.89 and a beta of 2.05. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. Encana Corp has a 12 month low of $5.00 and a 12 month high of $14.28.

Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. Encana had a return on equity of 10.79% and a net margin of 11.48%. During the same quarter in the prior year, the company posted $0.16 earnings per share. On average, equities research analysts predict that Encana Corp will post 0.78 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.0188 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 1.10%. Encana’s dividend payout ratio is presently 9.30%.

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About Encana

Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It holds interests in various assets, including the Montney in northeast 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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