Encana Corporation (ECA) Holdings Cut by Howard Hughes Medical Institute

Howard Hughes Medical Institute cut its position in Encana Corporation (NYSE:ECA) (TSE:ECA) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,405 shares of the oil and gas company’s stock after selling 10,815 shares during the quarter. Howard Hughes Medical Institute’s holdings in Encana Corporation were worth $1,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. lifted its stake in Encana Corporation by 0.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,898 shares of the oil and gas company’s stock worth $233,000 after purchasing an additional 124 shares in the last quarter. Sentinel Trust Co. LBA lifted its stake in Encana Corporation by 0.3% in the 2nd quarter. Sentinel Trust Co. LBA now owns 186,720 shares of the oil and gas company’s stock worth $1,644,000 after purchasing an additional 490 shares in the last quarter. Wetherby Asset Management Inc. lifted its stake in Encana Corporation by 2.1% in the 2nd quarter. Wetherby Asset Management Inc. now owns 24,141 shares of the oil and gas company’s stock worth $212,000 after purchasing an additional 497 shares in the last quarter. Equity Investment Corp Acquisition Inc lifted its stake in Encana Corporation by 5.4% in the 2nd quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock worth $114,000 after purchasing an additional 666 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Encana Corporation by 0.4% in the 1st quarter. Van ECK Associates Corp now owns 154,065 shares of the oil and gas company’s stock worth $1,804,000 after purchasing an additional 675 shares in the last quarter. Institutional investors and hedge funds own 66.76% of the company’s stock.

Several research firms have recently weighed in on ECA. Scotiabank upgraded shares of Encana Corporation from an “underperform” rating to a “sector perform” rating and set a $11.00 price objective on the stock in a research report on Friday, June 30th. BidaskClub upgraded shares of Encana Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Raymond James Financial, Inc. upgraded shares of Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada cut shares of Encana Corporation to a “hold” rating in a research report on Wednesday, July 5th. Finally, UBS AG upgraded shares of Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $13.26.

Encana Corporation (NYSE:ECA) remained flat at $10.44 during midday trading on Friday. The stock had a trading volume of 13,052,152 shares. Encana Corporation has a 52 week low of $8.01 and a 52 week high of $13.85. The stock’s 50-day moving average price is $9.53 and its 200-day moving average price is $10.13. The firm has a market cap of $10.16 billion, a P/E ratio of 12.44 and a beta of 2.06.

Encana Corporation (NYSE:ECA) (TSE:ECA) last posted its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.15. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $773.19 million. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. During the same period in the prior year, the business posted $0.10 earnings per share. Equities research analysts forecast that Encana Corporation will post $0.51 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, September 14th. Encana Corporation’s payout ratio is presently 6.98%.

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Encana Corporation 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.

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

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