Edgestream Partners L.P. raised its stake in Encana Corp (NYSE:ECA) (TSE:ECA) by 185.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,674 shares of the oil and gas company’s stock after buying an additional 29,656 shares during the period. Edgestream Partners L.P.’s holdings in Encana were worth $599,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. FMR LLC raised its stake in shares of Encana by 70.2% in the second quarter. FMR LLC now owns 41,979,114 shares of the oil and gas company’s stock worth $548,226,000 after purchasing an additional 17,318,112 shares during the last quarter. Morgan Stanley grew its holdings in shares of Encana by 34.2% in the second quarter. Morgan Stanley now owns 19,464,355 shares of the oil and gas company’s stock valued at $254,011,000 after acquiring an additional 4,962,470 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Encana by 37.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,307,169 shares of the oil and gas company’s stock valued at $186,745,000 after acquiring an additional 3,900,950 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Encana by 1.3% in the third quarter. CIBC Asset Management Inc now owns 10,513,431 shares of the oil and gas company’s stock valued at $137,695,000 after acquiring an additional 134,249 shares in the last quarter. Finally, TD Asset Management Inc. grew its holdings in shares of Encana by 13.1% in the third quarter. TD Asset Management Inc. now owns 9,512,694 shares of the oil and gas company’s stock valued at $124,594,000 after acquiring an additional 1,105,366 shares in the last quarter. 68.12% of the stock is currently owned by institutional investors.

NYSE ECA traded down $0.04 during trading hours on Friday, reaching $6.43. 30,712,711 shares of the stock traded hands, compared to its average volume of 26,640,390. Encana Corp has a 1 year low of $6.31 and a 1 year high of $14.31. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 0.38 and a beta of 2.06.

Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.04. Encana had a positive return on equity of 9.53% and a negative net margin of 3.98%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. On average, equities analysts expect that Encana Corp will post 0.65 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be paid a dividend of $0.015 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.93%. Encana’s dividend payout ratio (DPR) is currently 13.95%.

ECA has been the subject of several recent analyst reports. Zacks Investment Research raised Encana from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Monday, October 22nd. Morgan Stanley set a $19.00 price objective on Encana and gave the company a “buy” rating in a report on Friday, October 12th. Macquarie lowered Encana from an “outperform” rating to a “neutral” rating in a report on Wednesday, November 28th. Canaccord Genuity reissued an “average” rating on shares of Encana in a report on Wednesday, November 7th. Finally, BMO Capital Markets reissued a “buy” rating and set a $18.00 price objective on shares of Encana in a report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.81.

In related news, CFO Sherri Anne Brillon acquired 17,250 shares of Encana stock in a transaction dated Thursday, November 8th. The shares were purchased at an average cost of $8.85 per share, with a total value of $152,662.50. Following the completion of the purchase, the chief financial officer now owns 114,165 shares of the company’s stock, valued at $1,010,360.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Douglas James Suttles bought 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was acquired at an average cost of $8.83 per share, for a total transaction of $441,500.00. Following the completion of the purchase, the chief executive officer now directly owns 134,212 shares of the company’s stock, valued at $1,185,091.96. The disclosure for this purchase can be found here. Insiders have bought 243,655 shares of company stock worth $2,089,214 over the last ninety days. Insiders own 0.08% of the company’s stock.

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Encana Profile

Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company holds interests in various assets, including the Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.

Further Reading: Earnings Per Share

Institutional Ownership by Quarter for Encana (NYSE:ECA)

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