Millennium Management LLC decreased its stake in Encana Corp (NYSE:ECA) (TSE:ECA) by 73.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,627,373 shares of the oil and gas company’s stock after selling 7,376,138 shares during the period. Millennium Management LLC owned about 0.27% of Encana worth $34,287,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ECA. Envestnet Asset Management Inc. grew its holdings in shares of Encana by 10.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 42,317 shares of the oil and gas company’s stock valued at $467,000 after purchasing an additional 4,082 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Encana by 15.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 34,320 shares of the oil and gas company’s stock valued at $449,000 after purchasing an additional 4,535 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Encana by 14.6% during the 1st quarter. IFP Advisors Inc now owns 48,765 shares of the oil and gas company’s stock valued at $536,000 after purchasing an additional 6,210 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Encana by 274.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,002 shares of the oil and gas company’s stock valued at $213,000 after purchasing an additional 6,600 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Encana by 37.2% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 26,310 shares of the oil and gas company’s stock valued at $343,000 after purchasing an additional 7,140 shares during the last quarter. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:ECA opened at $12.65 on Monday. Encana Corp has a 12 month low of $9.79 and a 12 month high of $14.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $12.07 billion, a PE ratio of 29.42, a P/E/G ratio of 1.81 and a beta of 2.02.

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. Encana had a net margin of 1.49% and a return on equity of 7.30%. The firm had revenue of $983.00 million during the quarter, compared to analysts’ expectations of $1.14 billion. research analysts forecast that Encana Corp will post 0.7 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.74%. This is a boost from Encana’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Thursday, September 13th. Encana’s dividend payout ratio (DPR) is currently 13.95%.

Several research firms recently commented on ECA. ValuEngine raised shares of Encana from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Zacks Investment Research raised shares of Encana from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Wednesday, July 18th. National Bank Financial reduced their target price on shares of Encana from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, August 2nd. Canaccord Genuity reissued a “buy” rating and set a $19.00 price target on shares of Encana in a research report on Thursday, July 12th. Finally, Bank of America initiated coverage on shares of Encana in a research report on Tuesday, September 18th. They set a “buy” rating and a $19.00 price target for the company. Two research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $16.21.

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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