BB&T Corp Increases Stake in Encana Corporation (ECA)

BB&T Corp raised its position in shares of Encana Corporation (NYSE:ECA) (TSE:ECA) by 26.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,235 shares of the oil and gas company’s stock after buying an additional 11,650 shares during the period. BB&T Corp’s holdings in Encana Corporation were worth $495,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ECA. Guggenheim Capital LLC increased its position in shares of Encana Corporation by 40.6% in the fourth quarter. Guggenheim Capital LLC now owns 79,518 shares of the oil and gas company’s stock worth $934,000 after buying an additional 22,960 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Encana Corporation by 13.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,748,791 shares of the oil and gas company’s stock worth $32,304,000 after buying an additional 322,370 shares during the last quarter. Rathbone Brothers plc increased its position in shares of Encana Corporation by 5.3% in the first quarter. Rathbone Brothers plc now owns 28,372 shares of the oil and gas company’s stock worth $331,000 after buying an additional 1,436 shares during the last quarter. Creative Planning increased its position in shares of Encana Corporation by 194.3% in the first quarter. Creative Planning now owns 139,310 shares of the oil and gas company’s stock worth $1,631,000 after buying an additional 91,977 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in shares of Encana Corporation by 5.0% in the first quarter. Gulf International Bank UK Ltd now owns 314,267 shares of the oil and gas company’s stock worth $3,676,000 after buying an additional 14,900 shares during the last quarter. 73.08% of the stock is currently owned by institutional investors and hedge funds.

Encana Corporation (ECA) traded up 1.21% during trading on Friday, hitting $9.17. 4,069,158 shares of the company traded hands. The company’s 50-day moving average is $9.47 and its 200 day moving average is $10.54. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 10.93 and a beta of 2.04. Encana Corporation has a 52-week low of $8.01 and a 52-week high of $13.85.

Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $773.19 million. During the same period last year, the company earned $0.10 earnings per share. On average, equities analysts anticipate that Encana Corporation will post $0.50 earnings per share for the current 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 issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, September 14th. Encana Corporation’s dividend payout ratio is presently 6.98%.

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A number of research analysts have recently issued reports on ECA shares. BidaskClub raised shares of Encana Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Scotiabank raised 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. Raymond James Financial, Inc. raised 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 note on Wednesday, July 5th. Finally, UBS AG upgraded shares of Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and four have given 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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