Encana Corporation (ECA) Shares Bought by Candriam Luxembourg S.C.A.

Candriam Luxembourg S.C.A. increased its stake in shares of Encana Corporation (NYSE:ECA) (TSE:ECA) by 7.4% during the second quarter, Holdings Channel reports. The fund owned 305,656 shares of the oil and gas company’s stock after buying an additional 21,144 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Encana Corporation were worth $2,685,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Atria Investments LLC bought a new position in shares of Encana Corporation during the second quarter valued at $113,000. Quantitative Systematic Strategies LLC bought a new position in shares of Encana Corporation during the second quarter valued at $118,000. Equity Investment Corp Acquisition Inc raised its position in shares of Encana Corporation by 10.7% in the first quarter. Equity Investment Corp Acquisition Inc now owns 12,330 shares of the oil and gas company’s stock valued at $144,000 after buying an additional 1,195 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Encana Corporation during the first quarter valued at $166,000. Finally, United Services Automobile Association bought a new position in shares of Encana Corporation during the first quarter valued at $168,000. 73.10% of the stock is currently owned by institutional investors.

Shares of Encana Corporation (NYSE:ECA) opened at 9.78 on Thursday. The stock has a 50 day moving average of $9.29 and a 200 day moving average of $10.69. Encana Corporation has a 1-year low of $7.70 and a 1-year high of $13.85. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 11.66 and a beta of 2.04.

Encana Corporation (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.18 EPS 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 analysts’ expectations of $773.19 million. During the same period last year, the firm posted $0.10 earnings per share. Analysts predict that Encana Corporation will post $0.50 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given 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 0.61%. Encana Corporation’s dividend payout ratio (DPR) is presently 6.98%.

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Several equities analysts have recently weighed in on ECA shares. BMO Capital Markets set a $13.00 price objective on shares of Encana Corporation and gave the company a “buy” rating in a research report on Thursday, June 15th. GMP Securities reissued a “buy” rating on shares of Encana Corporation in a research report on Wednesday, June 14th. Royal Bank Of Canada reissued a “buy” rating and issued a $14.00 price objective on shares of Encana Corporation in a research report on Monday, May 29th. Jefferies Group LLC set a $14.00 price objective on shares of Encana Corporation and gave the company a “buy” rating in a research report on Wednesday, May 17th. Finally, Canaccord Genuity set a $14.00 price objective on shares of Encana Corporation and gave the company a “buy” rating in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $13.32.

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

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