Russell Investments Group Ltd. increased its stake in Encana Corporation (NYSE:ECA) (TSE:ECA) by 39.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,114,465 shares of the oil and gas company’s stock after buying an additional 1,161,706 shares during the period. Russell Investments Group Ltd. owned approximately 0.42% of Encana Corporation worth $36,133,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of Encana Corporation by 0.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,898 shares of the oil and gas company’s stock valued at $233,000 after buying an additional 124 shares during the period. Wetherby Asset Management Inc. increased its stake in shares of Encana Corporation by 0.6% in the first quarter. Wetherby Asset Management Inc. now owns 23,644 shares of the oil and gas company’s stock valued at $277,000 after buying an additional 133 shares during the period. Howard Hughes Medical Institute increased its stake in shares of Encana Corporation by 0.3% in the first quarter. Howard Hughes Medical Institute now owns 144,220 shares of the oil and gas company’s stock valued at $1,689,000 after buying an additional 389 shares during the period. Sentinel Trust Co. LBA increased its stake in shares of Encana Corporation by 0.3% in the second quarter. Sentinel Trust Co. LBA now owns 186,720 shares of the oil and gas company’s stock valued at $1,644,000 after buying an additional 490 shares during the period. Finally, Capstone Asset Management Co. increased its stake in shares of Encana Corporation by 0.8% in the first quarter. Capstone Asset Management Co. now owns 81,900 shares of the oil and gas company’s stock valued at $959,000 after buying an additional 670 shares during the period. Institutional investors and hedge funds own 73.10% of the company’s stock.

Shares of Encana Corporation (NYSE ECA) traded up 1.36% during trading on Friday, hitting $9.69. The stock had a trading volume of 7,309,171 shares. The stock has a 50 day moving average of $9.38 and a 200 day moving average of $10.65. The company has a market cap of $9.43 billion, a PE ratio of 11.55 and a beta of 2.04. Encana Corporation has a 12 month low of $8.01 and a 12 month high of $13.85.

Encana Corporation (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.15. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $773.19 million. During the same period in the previous year, the company earned $0.10 EPS. Equities analysts forecast that Encana Corporation will post $0.50 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.015 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.06 dividend on an annualized basis and a yield of 0.62%. Encana Corporation’s dividend payout ratio (DPR) is presently 6.98%.

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Several research analysts have weighed in on ECA shares. Desjardins set a $13.00 price objective on Encana Corporation and gave the stock a “hold” rating in a research report on Thursday, April 20th. Barclays PLC reissued an “overweight” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Encana Corporation in a research report on Saturday, April 22nd. TD Securities set a $12.50 price objective on Encana Corporation and gave the stock a “hold” rating in a research report on Wednesday, May 3rd. Scotiabank boosted their price objective on Encana Corporation from $11.00 to $12.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 3rd. Finally, BMO Capital Markets set a $13.00 price objective on Encana Corporation and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company. Encana Corporation has a consensus rating of “Buy” and a consensus price target of $13.32.

Encana Corporation Company 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.

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

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