Steadfast Capital Management LP grew its position in Encana Corporation (NYSE:ECA) (TSE:ECA) by 5.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,963,596 shares of the oil and gas company’s stock after acquiring an additional 989,023 shares during the period. Encana Corporation accounts for 3.4% of Steadfast Capital Management LP’s portfolio, making the stock its 11th largest holding. Steadfast Capital Management LP owned about 2.15% of Encana Corporation worth $184,480,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. BlueCrest Capital Management Ltd raised its stake in shares of Encana Corporation by 600.0% in the first quarter. BlueCrest Capital Management Ltd now owns 1,100,373 shares of the oil and gas company’s stock valued at $12,885,000 after acquiring an additional 943,183 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Encana Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 22,637,700 shares of the oil and gas company’s stock valued at $265,086,000 after acquiring an additional 994,074 shares during the last quarter. Capital Fund Management S.A. raised its stake in shares of Encana Corporation by 103.1% in the second quarter. Capital Fund Management S.A. now owns 563,668 shares of the oil and gas company’s stock valued at $4,960,000 after acquiring an additional 286,089 shares during the last quarter. Parkwood LLC raised its stake in shares of Encana Corporation by 15.4% in the second quarter. Parkwood LLC now owns 376,727 shares of the oil and gas company’s stock valued at $3,315,000 after acquiring an additional 50,376 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Encana Corporation by 0.4% in the first quarter. Van ECK Associates Corp now owns 154,065 shares of the oil and gas company’s stock valued at $1,804,000 after acquiring an additional 675 shares during the last quarter. Institutional investors own 66.75% of the company’s stock.

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Shares of Encana Corporation (NYSE:ECA) traded down 2.09% during mid-day trading on Friday, hitting $11.22. 5,068,403 shares of the company’s stock traded hands. The firm has a 50-day moving average of $10.20 and a 200 day moving average of $10.18. Encana Corporation has a 52 week low of $8.01 and a 52 week high of $13.85. The company has a market cap of $10.92 billion, a PE ratio of 13.37 and a beta of 2.12.

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, topping analysts’ consensus estimates of $0.03 by $0.15. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $773.19 million. During the same quarter last year, the firm earned $0.10 earnings per share. Equities research analysts predict that Encana Corporation will post $0.51 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Thursday, September 14th. Encana Corporation’s payout ratio is 6.98%.

A number of research analysts have recently issued reports on ECA shares. TD Securities upgraded shares of Encana Corporation from a “hold” rating to a “buy” rating and set a $11.50 target price for the company in a research note on Friday, June 30th. BMO Capital Markets reiterated a “buy” rating and issued a $12.00 target price on shares of Encana Corporation in a research note on Tuesday, June 27th. Canaccord Genuity set a $14.00 target price on shares of Encana Corporation and gave the company a “buy” rating in a research note on Tuesday, June 20th. GMP Securities reiterated a “buy” rating on shares of Encana Corporation in a research note on Wednesday, June 14th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $14.00 target price on shares of Encana Corporation in a research note on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $13.52.

About Encana Corporation

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.

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

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