Candriam Luxembourg S.C.A. cut its stake in shares of Encana Corp. (NYSE:ECA) by 49.0% during the second quarter, Holdings Channel reports. The fund owned 281,633 shares of the company’s stock after selling 270,058 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Encana Corp. were worth $2,180,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in ECA. BB&T Securities LLC raised its position in Encana Corp. by 22.6% in the first quarter. BB&T Securities LLC now owns 17,754 shares of the company’s stock valued at $108,000 after buying an additional 3,270 shares during the period. Loomis Sayles & Co. L P raised its position in Encana Corp. by 39.6% in the first quarter. Loomis Sayles & Co. L P now owns 21,274 shares of the company’s stock valued at $130,000 after buying an additional 6,036 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in Encana Corp. during the first quarter valued at approximately $187,000. AXA raised its position in Encana Corp. by 14.3% in the first quarter. AXA now owns 32,273 shares of the company’s stock valued at $198,000 after buying an additional 4,040 shares during the period. Finally, Seven Bridges Advisors LLC acquired a new position in Encana Corp. during the second quarter valued at approximately $346,000. Institutional investors and hedge funds own 64.68% of the company’s stock.
Encana Corp. (NYSE:ECA) traded up 3.66% during midday trading on Friday, hitting $10.47. 23,399,849 shares of the stock were exchanged. Encana Corp. has a 52 week low of $3.00 and a 52 week high of $10.75. The firm’s 50-day moving average is $9.76 and its 200 day moving average is $7.96. The stock’s market cap is $8.90 billion.
Encana Corp. (NYSE:ECA) last released its earnings results on Thursday, July 21st. The company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.19. Encana Corp. had a negative net margin of 81.73% and a positive return on equity of 0.79%. During the same period in the prior year, the company posted ($0.20) earnings per share. Equities research analysts expect that Encana Corp. will post ($0.04) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Tuesday, September 13th. Encana Corp.’s payout ratio is currently -1.79%.
Several equities analysts recently commented on ECA shares. Nomura increased their target price on Encana Corp. from $12.00 to $15.00 and gave the company a “buy” rating in a report on Monday, September 12th. Zacks Investment Research lowered Encana Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Deutsche Bank AG reissued a “buy” rating on shares of Encana Corp. in a report on Thursday. BMO Capital Markets reaffirmed a “buy” rating and set a $10.00 price objective on shares of Encana Corp. in a report on Friday, July 22nd. Finally, Royal Bank Of Canada dropped their price objective on Encana Corp. from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Monday, September 12th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $10.62.
About Encana Corp.
Encana Corp is a Canada-based energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). 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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