But upon closer inspection, conditions are changing quickly. Already, the impacts of the supply glut have been mitigated by 50% or more. Encana Corp was recommended as a Top Pick by Greg Newman on 2020-08-17. Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada. I understand I can unsubscribe from these updates at any time. “This creates a possible scenario whereby Encana’s stock price could be under pressure initially from all the forced selling by Canadian indexers, which [would be] followed by incremental buying in the U.S. at a later date,” he wrote in a recent report.

More than half of Encana’s sales now come from the United States. We hope to have this fixed soon. Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group. Our team thinks these 5 stocks are critically undervalued, but more importantly, could potentially make Canadian investors who act quickly a fortune. While S&P Dow Jones Indices is adding Encana to 14 small U.S. indexes Friday, including several focused on the energy industry, it did not add it to the MidCap 400.

Alberta’s government also plans to institute additional rail cars to improve transportation capabilities. But 99% of stockholders agreed to the split, so in this case it's nothing that wasn't planned. This translation has been automatically generated and has not been verified for accuracy. Don't miss out! If you would like to write a letter to the editor, please forward it to [email protected]. Returns since inception, October 2013. First just recently, November 12th if I'm correct, Encana stated they were down almost 46% in profits.

Brookfield Property Partners LP joins the S&P/TSX 60, making it the third Brookfield enterprise in that index. While oil has grown from 5% of production to nearly 20% in just a few years, natural gas still constitutes over 75% of Encana’s output. Since February, shares have roughly doubled. When the market realizes that the company’s current problems are temporary, a snap-back is a strong possibility. If Encana targets selling natural gas properties, it could transform into an oil producer nearly overnight. Read the latest stock experts ratings for Encana Corp. Why is Encana Corp stock dropping? One of the biggest reasons for the precipitous drop is Alberta’s crushing oil supply glut. Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada. One of the biggest reasons for the precipitous drop is Alberta’s crushing oil supply glut. Our team thinks these 5 stocks are critically undervalued, but more importantly, could potentially make Canadian investors who act quickly a fortune. Encana Corporation released its first-quarter earnings report on Tuesday. The Motley Fool Canada » Energy Stocks » Encana Corp (TSX:ECA) Is Down 50%, but Get Ready for a Spike, Ryan Vanzo | January 12, 2019 | More on: ECA ECA.

Current estimates show that Alberta is producing roughly 250,000 barrels per day more than can be shipped using existing infrastructure, so this move alone should help dramatically. With shares at the same levels as they were in 2005, the market seems to be pricing the stock as if current conditions will be the norm over the next few years. Encana, at a market capitalization of about US$5-billion, is too small for the mainstay S&P 500, which requires US$8.2-billion of market value or more. Last month, Reuters reported that Encana is “exploring the sale of more non-core assets in the United States and Canada that could be worth about $1 billion.”. Welcome to The Globe and Mail’s comment community.

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