PNC Financial Services Group Inc. increased its position in Encana Corporation (NYSE:ECA) (TSE:ECA) by 8.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 31,951 shares of the oil and gas company’s stock after buying an additional 2,380 shares during the period. PNC Financial Services Group Inc.’s holdings in Encana Corporation were worth $375,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Candriam Luxembourg S.C.A. raised its position in shares of Encana Corporation by 23.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 284,512 shares of the oil and gas company’s stock worth $3,324,000 after buying an additional 54,490 shares during the period. Capstone Asset Management Co. raised its position in shares of Encana Corporation by 0.8% in the first quarter. Capstone Asset Management Co. now owns 81,900 shares of the oil and gas company’s stock worth $959,000 after buying an additional 670 shares during the period. Quadrant Capital Group LLC raised its position in shares of Encana Corporation by 3,857.3% in the first quarter. Quadrant Capital Group LLC now owns 17,531 shares of the oil and gas company’s stock worth $200,000 after buying an additional 17,088 shares during the period. Nexus Investment Management Inc. raised its position in shares of Encana Corporation by 2.6% in the first quarter. Nexus Investment Management Inc. now owns 656,564 shares of the oil and gas company’s stock worth $7,679,000 after buying an additional 16,650 shares during the period. Finally, Gulf International Bank UK Ltd raised its position in shares of Encana Corporation by 5.0% in the first quarter. Gulf International Bank UK Ltd now owns 314,267 shares of the oil and gas company’s stock worth $3,676,000 after buying an additional 14,900 shares during the period. Institutional investors and hedge funds own 73.10% of the company’s stock.

Shares of Encana Corporation (NYSE:ECA) traded up 1.64% on Tuesday, reaching $9.89. 16,389,596 shares of the company’s stock were exchanged. Encana Corporation has a 12 month low of $8.01 and a 12 month high of $13.85. The firm’s 50-day moving average price is $9.19 and its 200 day moving average price is $10.78. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 11.79 and a beta of 2.04.

Encana Corporation (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $773.19 million. During the same quarter in the prior year, the business earned $0.10 EPS. Equities research analysts predict that Encana Corporation will post $0.50 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.015 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.06 dividend on an annualized basis and a yield of 0.61%. Encana Corporation’s dividend payout ratio (DPR) is currently 6.98%.

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A number of brokerages have issued reports on ECA. BidaskClub raised Encana Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Scotiabank raised Encana Corporation from an “underperform” rating to a “sector perform” rating and set a $11.00 price target for the company in a research note on Friday, June 30th. Raymond James Financial, Inc. raised Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, July 5th. Royal Bank Of Canada lowered Encana Corporation to a “hold” rating in a research note on Wednesday, July 5th. Finally, UBS AG raised Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $13.32.

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.

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

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