Encana Corporation (ECA) Shares Bought by BlackRock Inc.
BlackRock Inc. raised its stake in shares of Encana Corporation (NYSE:ECA) (TSE:ECA) by 15.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,264,984 shares of the oil and gas company’s stock after buying an additional 3,368,871 shares during the quarter. BlackRock Inc. owned about 2.60% of Encana Corporation worth $222,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Atria Investments LLC purchased a new stake in Encana Corporation during the 2nd quarter valued at approximately $113,000. Equity Investment Corp Acquisition Inc lifted its position in Encana Corporation by 5.4% in the second quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock worth $114,000 after buying an additional 666 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Encana Corporation in the second quarter worth $118,000. DekaBank Deutsche Girozentrale lifted its position in Encana Corporation by 85.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 14,072 shares of the oil and gas company’s stock worth $123,000 after buying an additional 6,500 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Encana Corporation in the second quarter worth $128,000. 66.75% of the stock is owned by institutional investors and hedge funds.
Encana Corporation (NYSE ECA) opened at 11.23 on Friday. The firm has a market capitalization of $10.93 billion, a P/E ratio of 13.38 and a beta of 2.12. Encana Corporation has a one year low of $8.01 and a one year high of $13.85. The firm has a 50-day moving average price of $10.27 and a 200-day moving average price of $10.18.
Encana Corporation (NYSE:ECA) (TSE:ECA) last announced its earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.15. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $773.19 million. During the same period last year, the business posted $0.10 EPS. Equities analysts anticipate that Encana Corporation will post $0.51 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.015 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.06 annualized dividend and a dividend yield of 0.53%. Encana Corporation’s dividend payout ratio (DPR) is currently 6.98%.
A number of analysts recently issued reports on the company. GMP Securities restated a “buy” rating and issued a $16.00 price target on shares of Encana Corporation in a research report on Friday, September 29th. TD Securities reiterated a “buy” rating and set a $12.50 target price on shares of Encana Corporation in a research report on Sunday, October 1st. Macquarie upgraded Encana Corporation from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $10.00 to $14.50 in a research report on Thursday, September 28th. Royal Bank Of Canada lifted their target price on Encana Corporation from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, September 25th. Finally, Sanford C. Bernstein upgraded Encana Corporation from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $10.00 to $14.00 in a research report on Friday, September 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $13.43.
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Encana Corporation Company Profile
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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