World Asset Management Inc Sells 1,351 Shares of Encana Corporation (ECA)

World Asset Management Inc decreased its position in Encana Corporation (NYSE:ECA) (TSE:ECA) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,310 shares of the oil and gas company’s stock after selling 1,351 shares during the period. World Asset Management Inc’s holdings in Encana Corporation were worth $504,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Causeway Capital Management LLC increased its position 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 worth $571,082,000 after buying an additional 23,779,815 shares during the period. Vanguard Group Inc. increased its position in 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 worth $265,086,000 after buying an additional 994,074 shares during the period. FMR LLC increased its position in 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 worth $258,686,000 after buying an additional 1,309,218 shares during the period. BlackRock Inc. increased its position in 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 worth $256,403,000 after buying an additional 21,702,894 shares during the period. Finally, Steadfast Capital Management LP increased its position in 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 worth $233,902,000 after buying an additional 2,164,300 shares during the period. 73.10% of the stock is owned by hedge funds and other institutional investors.

Encana Corporation (NYSE:ECA) opened at 9.56 on Friday. The company has a market cap of $9.30 billion, a PE ratio of 11.39 and a beta of 2.04. Encana Corporation has a 52-week low of $8.01 and a 52-week high of $13.85. The firm’s 50-day moving average price is $9.34 and its 200 day moving average price is $10.68.

Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.15. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $773.19 million. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. During the same period in the previous year, the company posted $0.10 earnings per share. On average, equities analysts predict that Encana Corporation will post $0.50 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders 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 annualized dividend and a dividend yield of 0.63%. Encana Corporation’s payout ratio is presently 6.98%.

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ECA has been the subject of a number of recent research reports. BidaskClub raised Encana Corporation from a “strong sell” rating to a “sell” rating in a research report 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 report on Friday, June 30th. Raymond James Financial, Inc. raised Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada downgraded Encana Corporation to a “hold” rating in a research report on Wednesday, July 5th. Finally, UBS Group AG raised Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and four have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target 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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