Encana Corporation (ECA) Shares Sold by Westpac Banking Corp
Westpac Banking Corp reduced its stake in Encana Corporation (NYSE:ECA) (TSE:ECA) by 8.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 610,430 shares of the oil and gas company’s stock after selling 54,900 shares during the period. Westpac Banking Corp owned approximately 0.06% of Encana Corporation worth $6,965,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Causeway Capital Management LLC increased its stake in Encana Corporation by 95.2% in the first quarter. Causeway Capital Management LLC now owns 48,768,776 shares of the oil and gas company’s stock valued at $571,082,000 after buying an additional 23,779,815 shares during the last quarter. Vanguard Group Inc. boosted 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 buying an additional 994,074 shares during the period. FMR LLC boosted its stake in shares of Encana Corporation by 6.3% in the first quarter. FMR LLC now owns 22,080,449 shares of the oil and gas company’s stock valued at $258,686,000 after buying an additional 1,309,218 shares during the period. BlackRock Inc. boosted its stake in shares of Encana Corporation by 11,232.3% in the first quarter. BlackRock Inc. now owns 21,896,113 shares of the oil and gas company’s stock valued at $256,403,000 after buying an additional 21,702,894 shares during the period. Finally, Steadfast Capital Management LP boosted its stake in shares of Encana Corporation by 12.2% in the first quarter. Steadfast Capital Management LP now owns 19,974,573 shares of the oil and gas company’s stock valued at $233,902,000 after buying an additional 2,164,300 shares during the period. 66.76% of the stock is owned by institutional investors and hedge funds.
Encana Corporation (NYSE:ECA) opened at 9.42 on Friday. Encana Corporation has a one year low of $8.01 and a one year high of $13.85. The stock’s 50 day moving average price is $9.56 and its 200-day moving average price is $10.27. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 11.23 and a beta of 2.06.
Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its earnings results on Friday, July 21st. The oil and gas company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $773.19 million. During the same period in the previous year, the company posted $0.10 EPS. On average, equities research analysts expect that Encana Corporation will post $0.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.015 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.06 annualized dividend and a dividend yield of 0.64%. Encana Corporation’s dividend payout ratio is currently 6.98%.
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ECA has been the topic of several research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $14.00 price target on shares of Encana Corporation in a research report on Monday, May 29th. Scotiabank upgraded shares of Encana Corporation from an “underperform” rating to a “sector perform” rating and set a $11.00 price target on the stock in a research report on Friday, June 30th. TD Securities dropped their price target on shares of Encana Corporation from $12.50 to $11.50 and set a “hold” rating on the stock in a research report on Tuesday, June 13th. BidaskClub upgraded shares of Encana Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Raymond James Financial, Inc. initiated coverage on shares of Encana Corporation in a research report on Wednesday, May 31st. They issued an “outperform” rating and a $15.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company’s stock. Encana Corporation currently has a consensus rating of “Buy” and a consensus price target of $13.23.
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.
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