Capital Innovations LLC Has $264,000 Position in Encana Corporation (ECA)

Capital Innovations LLC continued to hold its position in shares of Encana Corporation (NYSE:ECA) (TSE:ECA) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 30,000 shares of the oil and gas company’s stock at the close of the 2nd quarter. Capital Innovations LLC’s holdings in Encana Corporation were worth $264,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Steadfast Capital Management LP lifted its stake in shares of Encana Corporation by 12.2% in the 1st quarter. Steadfast Capital Management LP now owns 19,974,573 shares of the oil and gas company’s stock worth $233,902,000 after acquiring an additional 2,164,300 shares during the period. BlueCrest Capital Management Ltd lifted its stake in shares of Encana Corporation by 600.0% in the 1st quarter. BlueCrest Capital Management Ltd now owns 1,100,373 shares of the oil and gas company’s stock worth $12,885,000 after acquiring an additional 943,183 shares during the period. Vanguard Group Inc. lifted its stake in shares of Encana Corporation by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 22,637,700 shares of the oil and gas company’s stock worth $265,086,000 after acquiring an additional 994,074 shares during the period. Capital Fund Management S.A. increased its holdings in shares of Encana Corporation by 103.1% in the 2nd quarter. Capital Fund Management S.A. now owns 563,668 shares of the oil and gas company’s stock valued at $4,960,000 after purchasing an additional 286,089 shares in the last quarter. Finally, Parkwood LLC increased its holdings in shares of Encana Corporation by 15.4% in the 2nd quarter. Parkwood LLC now owns 376,727 shares of the oil and gas company’s stock valued at $3,315,000 after purchasing an additional 50,376 shares in the last quarter. Institutional investors own 66.76% of the company’s stock.

Shares of Encana Corporation (ECA) traded up 1.33% during midday trading on Tuesday, hitting $11.47. 9,341,531 shares of the stock were exchanged. The stock’s 50-day moving average price is $10.33 and its 200 day moving average price is $10.18. The stock has a market cap of $11.16 billion, a P/E ratio of 13.67 and a beta of 2.11. Encana Corporation has a one year low of $8.01 and a one year 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, beating the Zacks’ 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 company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $773.19 million. During the same period in the prior year, the company earned $0.10 EPS. On average, analysts anticipate that Encana Corporation will post $0.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.015 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.06 annualized dividend and a yield of 0.53%. Encana Corporation’s payout ratio is presently 6.98%.

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A number of equities analysts have recently issued reports on ECA shares. Raymond James Financial, Inc. upgraded shares of Encana Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, July 5th. Zacks Investment Research downgraded shares of Encana Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Jefferies Group LLC reiterated a “buy” rating and issued a $12.00 price target (down previously from $13.00) on shares of Encana Corporation in a report on Tuesday, August 29th. Macquarie upgraded shares of Encana Corporation from a “neutral” rating to an “outperform” rating and increased their price target for the company from $10.00 to $14.50 in a report on Thursday, September 28th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $8.00 price target on shares of Encana Corporation in a report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $13.43.

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.

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

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