Encana Corp (ECA.TO) Buy, Sell or Hold

Encana Corp (ECA.TO)

4.96

-0.23 (4.43%)

as of Jan 24, 2020, 9:00:00 pm Market Open.

267 watching

DON'T BUY

At some point, the gas stocks are going to be given away and will be screaming buys. Whether you Buy now or wait a few months and looking out at few years when gas prices will undoubtedly be higher, it won't matter. In the meantime there is still more pain to come. There is a good likelihood that when storage levels get full, the price could not only got flat but could go negative. Fabulous for chemical companies and oil sands producers that use gas in their production.

COMMENT

A good name. Focused on natural gas. Doing some interesting joint ventures. Not his favourite.

SELL

(Market Call Minute.) Has concerns about being able to maintain the dividend if these gas prices hold at these level for the next year.

COMMENT

The one good thing about this stock is that it looks like it is starting to make a base. If you own, put a stop loss in at around $1 lower wait for the potential of a break on the upside. If it does break, it has a potential of $21-$23.

BUY

One of the great investment stories that will be talked about 10 years from now is “who bought natural gas stocks in 2011-2012”. Doesn't feel gas is going to stay down at $2 for a long time but analysts have been cutting their estimates on this company. Generating cash from their assets and he believes the dividend is safe. Generating good cash flow. If you have a time horizon longer than 2 years, not a bad time and you get paid while you wait.

DON'T BUY

There is a lot of headwinds facing natural gas prices at this point. Supply is very plentiful and there are many different alternatives.

BUY

For a long term hold? As the natural gas market matures a little bit and were not isolated and we get a little bit of Europe and we start shipping the stuff on a regular basis to Asia, this will give us better pricing. At this price, it is probably a good risk/reward. If you buy, put a 3% Stop in.

TOP PICK

This has been beaten up enough and it is time to get in. It is being supported by a decent yield. Chart shows that it is trying to form a bottom. If things get better 6 to 9 months from now in natural gas, the stock will be up there.

COMMENT

Sell Enbridge (ENB-T) and Buy this one? This is one of the largest natural gas producers in North America. They have some very favourable hedges on natural gas, which helps them out in this difficult period. If gas prices stay low, the dividend might be in jeopardy. If you have a view of owning it for 5-7 years, this might be a good contrarian play.

COMMENT

Would you buy this and use a DRIP strategy to build a position over the next year or 2? This one is getting very, very cheap. Has been a fabulous hedger when they have had a chance to do it. Probably have a $16 downside from where it is currently. Once we get to the fall and there is a chance for prices to start recovering, foreign investors jump to this stock. This is one you buy and put away and you are looking at a $40 target 3-5 years from now.

DON'T BUY

Has a tough time getting excited about a company like this. This is a pure call on gas. Has really struggled to define itself over the last few years. Their hedges wind down in 2013.

TOP PICK

Could be dead money for a while with Nat Gas so low and this is when you want to buy it. Have some of the best plays in North America, BC to Texas. Have been developing properties in a very intelligent manor – joint ventures. Close to 4% yield that is not at risk at all. Cash flow more than covers it.

DON'T BUY

(Market Call Minute) If they cut the dividend he will have a hard look at it

DON'T BUY

No rush to get into Natural Gas. This one is really leveraged to Natural Gas. Decided to transition to liquid gas but that will take time. Nat Gas should stay depressed for at least this year.

WATCH

It looks like we might be getting a bottom in the stock. Nobody can make money in Nat Gas. This is a great stock. If gas goes up $1 or $1.50 then it will do well. 4% dividend. Hedging in place this year so dividend is safe. He is positive on it. It may not do anything for a while.

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Encana Corp (ECA.TO)