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

TOP PICK

Natural gas prices have firmed up and have come out of a 2 year consolidation. There was a lot of LNG coming into North America last year, but pricing for gas in Asia and Europe is now higher than in North America so LNG is going there. Has some interesting growth plays, one particularly in B.C.

COMMENT

If he were looking to buy something today in energy it would be this company.

SELL

His model price is $72.13 so the stock is now above his model price by about 4%.

HOLD

Largest and leading player in the natural gas space. Natural gas appears to be under priced and some of the fundamentals suggest prices should go higher.

COMMENT

Great diversification. Be cautious about buying natural gas stocks in February as it is coming into the shoulder season.

TOP PICK

There is awakening in gas stocks. Gas prices are starting to move and service companies are starting to move. This one is the great North American gas company.

TOP PICK

Likes natural gas story for the first time in quite a while. If you are going to be in gas, this is the one. They have a couple of big growth plays under way. Core story is that the gas sector is looking much better in North America. Prices are breaking out with higher highs. Caution: Seasonally, spring is not the ideal time to buy gas stocks. For a stoploss, he would not like to see this trade at less than $65 US.

TOP PICK

Dividend has quadrupled since 2006. When you buy stocks you don't just want a high dividend yield but you want growth in the dividend. A signal that the company is very confident about cash flow/earnings over the next 3 to 5 years. Earnings were a little disappointing this quarter. Missed on production but have done a great job on reserve replacement. Natural gas will continue to be a good commodity for them. Good long-term investment.

COMMENT

Not that positive on natural gas. Coming into a shoulder season where gas prices typically fall off. Likes this one, not for the traditional gas play, but because they have non-traditional reserves, have booked tight gas reservoirs, etc., amassed huge land positions, divested of marginal properties, buying back stock, getting into the oil sands and a very forward-looking deal with ConocoPhillips (COP-N).

DON'T BUY

His model price is $66.94, which is only a 2% positive differential.

BUY

The premier North American natural gas play. Very well managed. Well diversified geographically. Thinks natural gas will be a better commodity in the latter half of 08 and into 09. Have a pretty extensive hedge program that they have done well with.

COMMENT

80% natural gas, so it's a matter of where natural gas prices go. Very strong management. Fully priced, but if you believe in natural gas, you can believe in this one.

BUY

Fantastic business. Been trading more off oil prices than off its gas business. Can easily pull back. A lot stronger than the rest of the energy group. Does a lot of hedging so it shouldn't swing around wildly with prices. The key is, if it does come off a few dollars, it hits the support line. The other key is if natural gas prices improve. Have the potential to become one of the main refiners in North America in the next 10 years.

TOP PICK

Gas play and a great safe place to put capital. When the gas market does move, the big companies are going to move first.

COMMENT

Up 27% over the last year, which is remarkable given their strong weighting in natural gas. Exploration-production company and is now an integrated producer because of their deal with ConocoPhillips (COP-N). If you think gas is going to be stronger this would be an interesting stock.

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Encana Corp (ECA.TO)