ECA.TO - Encana Corporation

Toronto - Toronto Delayed Price. Currency in CAD
5.33
-0.23 (-4.14%)
At close: 4:15PM EST
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Previous Close5.56
Open5.58
Bid5.33 x 0
Ask5.34 x 0
Day's Range5.32 - 5.58
52 Week Range5.02 - 10.35
Volume9,198,978
Avg. Volume7,308,254
Market Cap6.924B
Beta (5Y Monthly)3.43
PE Ratio (TTM)5.15
EPS (TTM)1.03
Earnings DateFeb. 25, 2020 - Mar. 01, 2020
Forward Dividend & Yield0.10 (1.76%)
Ex-Dividend DateDec. 10, 2019
1y Target Est13.70
  • The Canadian Press

    Alberta court approves Encana reorganization, paving way for change next week

    CALGARY — Encana Corp. says an Alberta court has approved the oil and gas company's reorganization that will see it move its headquarters to Denver from Calgary and change its name to Ovintiv Inc.The decision by the Court of Queen's Bench of Alberta follows Tuesday's vote that saw 90 per cent of shareholders approve the change, despite public criticism from Encana founder Gwyn Morgan and shareholder Letko, Brosseau & Associates Inc.Encana announced the changes in October as part of a reorganization that includes a one-for-five share consolidation, also approved by shareholders.The reorganization is expected to close around Jan. 24.The Calgary-based company says a corporate domicile in the United States will expose it to increasingly larger pools of investment in U.S. index funds and passively managed accounts, as well as better align it with its U.S. peers.Encana has said the changes will not affect how it runs its day-to-day activities in Canada.This report by The Canadian Press was first published Jan. 17, 2020.Companies in this story: (TSX:ECA)The Canadian Press

  • CNW Group

    Encana Receives Court Approval of Proposed Plan of Arrangement

    CALGARY, Jan. 17, 2020 /CNW/ - Encana Corporation (NYSE, TSX: ECA) today announced that the Court of Queen's Bench of Alberta has granted a final order approving the previously announced plan of arrangement, which forms part of a series of proposed reorganization transactions (collectively, the "Reorganization"), in order for the company to: (i) establish its corporate domicile in the U.S.; (ii) rebrand under the name Ovintiv Inc. ("Ovintiv"); and (iii) complete a consolidation and share exchange for effectively one share of common stock of Ovintiv for every five common shares of Encana. Further information regarding the Reorganization is provided in Encana's proxy statement/management information circular and prospectus dated December 11, 2019.

  • The Canadian Press

    Most actively traded companies on the TSX

    TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (17,559.02, up 74.25 points.)Bombardier Inc. (TSX:BBD.B). Industrials. Down 10 cents, or 8.2 per cent, to $1.12 on 34 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Down two cents, or 0.72 per cent, to $2.77 on 10.3 million shares.Encana Corp. (TSX:ECA). Energy. Down 23 cents, or 4.14 per cent, to $5.33 on 9.2 million shares.Baytex Energy Corp. (TSX:BTE). Energy. Unchanged at $1.77 on 5 million shares.Hexo Corp. (TSX:HEXO). Health care. Down 21 cents, or 9.09 per cent, to $2.10 on 4.9 million shares.Zenabis Global Inc. (TSX:ZENA). Health care. Unchanged at 16 cents on 4.3 million shares. Companies in the news:Bombardier Inc. — Two major rating agencies have voiced concerns over the finances of Bombardier Inc., whose future is being questioned as it considers options to raise its more than US$9 billion debt. S&P Global Ratings changed its outlook to "negative" from "stable" on Friday, following in the footsteps of Moody's Investors Service, which did the same Thursday evening. The Montreal-based transportation manufacturer's stock dropped another seven per cent after plunging 32 per cent on Thursday. Bombardier has faced persistent difficulties in its rail division but also raised doubts about its continued participation in the A220, less than two years after having ceded control of the program formerly called C Series to Airbus.Canopy Growth Corp. (TSX:WEED). Up 90 cents, or 2.84 per cent, to $32.57. Canopy Growth Corp. is delaying the launch of its cannabis-infused drinks. The company says work to scale up to commercial production is not complete and it is delaying the launch date while it completes the final steps. Canopy submitted its final documentation for its beverage facility to Health Canada last June and received its license in late November. The company had expected to have its beverage products on store shelves in early January. It did not say when it now plans to launch its beverage products.This report by The Canadian Press was first published Jan. 17, 2020.The Canadian Press

  • CNW Group

    S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite and S&P/TSX 60 Indices

    S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite and S&P/TSX 60 Indices

  • CNW Group

    Encana Provides Details on its Upcoming Anadarko Basin Conference Call and Webcast

    Encana Provides Details on its Upcoming Anadarko Basin Conference Call and Webcast

  • Encana Investors Approve U.S. Move, Bruising Canadian Morale
    Bloomberg

    Encana Investors Approve U.S. Move, Bruising Canadian Morale

    (Bloomberg) -- Encana Corp. won investors’ approval to relocate to the U.S. and change its name to Ovintiv, a plan that has dented morale in Canada’s beleaguered energy industry.About 90% of the shares were voted by holders in favor of the plan, Encana said in a statement Tuesday after a special meeting in Calgary. The company produces oil and natural gas in both Canada and the U.S.Encana can now push ahead with a plan that has added to the gloom surrounding Canada’s oil industry, which is suffering from a lack of pipeline space that has weighed on prices and prevented producers from increasing output. The dismal environment has prompted foreign companies to sell more than $30 billion of Canadian energy assets in the past three years.Losing Encana carries an even sharper sting because it was one of Canada’s marquee companies, born out of the nation’s 19th-century railway boom, and the “can” in its name was a nod toward its country of origin. The company, which is moving its head office from Calgary to Denver, said relocating to the U.S. will allow it to access larger pools of investment capital, including U.S. index funds and passively managed accounts.Montreal-based Letko, Brosseau & Associates Inc., Encana’s fourth-largest shareholder, blasted the plan in November, saying the move was “highly discriminatory” because it forces investors holding the shares in Canadian-focused funds to sell the stock at a time when the price is particularly weak. The company holds about 4% of Encana’s shares. Roughly 71% of Encana’s shareholders are in the U.S., and 20% are in Canada, according to data compiled by Bloomberg.About 90 million Encana shares in the S&P/TSX index and 30 million in the MSCI Canada may be put up for sale as a result of the move to the U.S., according to Randy Ollenberger, an analyst at Bank of Montreal. The company may be added to the S&P MidCap 400 Index, generating demand for 90 million or more of the company’s shares, he said. Encana has about 1.3 billion shares outstanding, according to data compiled by Bloomberg.Encana shares fell 2.5% to C$5.54 in Toronto trading. The stock has slid 39% in the past 12 months.(Updates with analyst’s projections in sixth paragraph)\--With assistance from Michael Bellusci.To contact the reporter on this story: Kevin Orland in Calgary at korland@bloomberg.netTo contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Christine BuurmaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Encana shareholders vote 90 per cent for name change, Denver HQ move
    The Canadian Press

    Encana shareholders vote 90 per cent for name change, Denver HQ move

    CALGARY — Shareholders in Encana Corp. have voted overwhelmingly in favour of the oil and gas company moving its headquarters to Denver from Calgary and changing its name to Ovintiv Inc.CEO Doug Suttles says the 90 per cent vote in favour of the resolution shows clear support for the long-standing Canadian company's decision to move its corporate home south of the border, despite public criticism from Encana founder Gwyn Morgan and shareholder Letko, Brosseau & Associates Inc.Encana announced the changes in October as part of a reorganization that includes a one-for-five share consolidation, also approved by shareholders on Tuesday.It says a corporate domicile in the United States will expose it to increasingly larger pools of investment in U.S. index funds and passively managed accounts, as well as better align it with its U.S. peers.Encana has said the changes will not affect how it runs its day-to-day activities in Canada.The company was created in 2002 through the merger of Alberta Energy Company Ltd., founded in the 1970s by the provincial government, and PanCanadian Energy Corp., the roots of which can be traced back to the construction of the Canadian Pacific railroad."With 90 per cent of our securityholders voting 'for' the resolution, there is clearly support for our efforts to expose Ovintiv to the deeper pools of capital in the U.S., capturing the value we know exists within our equity," said Suttles in a news release."We will continue to focus on innovation and efficiencies throughout our operations, delivering the financial and operational performance our shareholders expect."This report by The Canadian Press was first published Jan. 14, 2020.Companies in this story: (TSX:ECA)The Canadian Press

  • CNW Group

    Encana Receives Securityholder Approval for Reorganization

    CALGARY , Jan. 14, 2020 /CNW/ - Encana Corporation (NYSE, TSX: ECA) today announced that its securityholders voted in support of the reorganization resolution, in order to: (i) establish the company's corporate domicile in the U.S.; (ii) rebrand under the name Ovintiv Inc. ("Ovintiv"); and (iii) complete a consolidation and share exchange for effectively one share of common stock of Ovintiv for every five common shares of Encana.

  • Executives Think Encana (TSX:ECA) Stock Is Seriously Undervalued
    The Motley Fool

    Executives Think Encana (TSX:ECA) Stock Is Seriously Undervalued

    According to company insiders, Encana Corp (TSX:ECA)(NYSE:ECA) stock is a golden opportunity for investors.

  • Why Encana’s (ECA) Stock Price Rose 16.7% in December
    The Motley Fool

    Why Encana’s (ECA) Stock Price Rose 16.7% in December

    Encana Corp.’s (TSX:ECA)(NYSE:ECA) stock price rallied in December, as investors recognized the stock's ridiculously low valuation levels and strong business.

  • Could Shareholders Block Encana’s (TSX:ECA) Move to the U.S. in 2020?
    The Motley Fool

    Could Shareholders Block Encana’s (TSX:ECA) Move to the U.S. in 2020?

    The Encana stock is tanking as it prepares to relocate to the U.S. Its performance is dismal in 2019 heading into 2020. Only the flow of more American funds can confirm if the decision to move was a wise one.

  • 2019 Stock Losers: Can These 3 Disappointing Stocks Rebound in 2020?
    The Motley Fool

    2019 Stock Losers: Can These 3 Disappointing Stocks Rebound in 2020?

    It is not surprising the see poor performances and the sharp drop in prices of the Encana stock, SNC-Lavalin stock, and Sierra Wireless stock. Near-term recovery is unlikely.

  • This Contrarian Bet Could Give Canadian Investors a 150% Gain in 2020
    The Motley Fool

    This Contrarian Bet Could Give Canadian Investors a 150% Gain in 2020

    Shares of Encana Corp. have declined over 20% in 2019. Will the recently announced changes and its low valuation result in a turnaround of investor's fortunes in 2020?

  • 3 Canadian Stocks Under $5 Ready to Rise in 2020
    The Motley Fool

    3 Canadian Stocks Under $5 Ready to Rise in 2020

    If you want to experience rapid growth in 2020, bet on low-priced stocks like Green Organic Dutchman Holdings Ltd (TSX:TGOD) and Bombardier, Inc. (TSX:BBD.B).

  • CNW Group

    Encana Files Definitive Proxy Statement/Prospectus

    CALGARY, Dec. 11, 2019 /CNW/ - Encana Corporation (NYSE, TSX: ECA) today filed its definitive Proxy Statement/Prospectus with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities related to its intention to establish corporate domicile in the United States. Encana shareholders and incentive award holders as of the close of business on December 9, 2019 will be entitled to notice of and vote at the meeting. The single reorganization resolution, as further outlined in the definitive Proxy Statement/Prospectus, must be approved by at least two-thirds of votes cast.

  • Chevron move to exit Kitimat LNG project a dash of 'cold water' for gas industry
    The Canadian Press

    Chevron move to exit Kitimat LNG project a dash of 'cold water' for gas industry

    CALGARY — The decision by Chevron Corp. to try to sell its 50 per cent stake in the Kitimat LNG project on the B.C. coast throws a symbolic dash of "long-dated cold water" on growth in the Canadian natural gas industry, an analysis says.The California-based company announced the potential sale in its 2020 budget, adding it would also cut funding to gas-related ventures including Kitimat LNG and its shale gas fields in the northeastern United States.It also announced a charge of at least US$10 billion against its assets because of expected lower long-term prices for oil and gas."With (Tuesday’s) budget, Chevron threw some long-dated cold water on the Canadian gas macro, as the company announced they are reducing funding for the Kitimat LNG project," said analysts at Tudor Pickering Holt & Co. in a report Wednesday."While we don't think investors were baking in any long-term gas demand related to the project, any advancements likely would have been well received."The analysts pointed out Chevron has access to about 100 million cubic feet per day of gas production to supply the proposed project to super-cool and ship out as much as 2.3 billion cubic feet of gas per day.Chevron's move is the latest in a string of setbacks for B.C.'s nascent liquefied natural gas industry which once boasted nearly 20 proposed projects with the implied promise of a new higher-priced export market in Asia for Western Canada's abundant natural gas resources.Chevron is not the first company to want out of Kitimat LNG — it bought its 50 per cent stake from Calgary-based Encana Corp. and Houston-based EOG Resources, Inc., in December 2012.In the same transaction, Houston-based producer Apache Corp. raised its stake in Kitimat LNG from 40 per cent to 50 per cent. But two years later, under pressure from activist investors, it sold that stake to Australian Woodside Petroleum Ltd., which remains Chevron's partner.Malaysian energy giant Petronas cancelled its Pacific NorthWest LNG project in 2017 and later joined the Royal Dutch Shell-led $40-billion LNG Canada project, which remains the only project under construction after being green-lighted in 2018.Finance Minister Bill Morneau said Wednesday the federal government still sees a "very positive opportunity" for LNG in Canada, suggesting Chevron remains committed to seeing the project move forward despite its efforts to rebalance its asset portfolio.Earlier this month, the Canada Energy Regulator approved a 40-year licence to export natural gas for Kitimat LNG, doubling its previous licence duration and nearly doubling the potential output of the facility to 18 million tonnes of liquefied natural gas per year, a substantial increase over the previous 10-million-tonne licence which was set to expire at the end of this year.Chevron said its decisions are part of its global portfolio optimization effort focused on improving returns and driving value."Although Kitimat LNG is a globally competitive LNG project, the strength of Chevron Corp.'s global portfolio of investment opportunities is such that the Kitimat LNG Project will not be funded by Chevron and may be of higher value to another company," Chevron said in a statement."Chevron intends to commence soliciting expressions of interest for its interests in the Kitimat LNG Project. No timeline has been set to conclude this process."The company said it would continue to work with Woodside and government and First Nations partners during the process.The Kitimat LNG project includes upstream natural gas lands in the Liard and Horn River Basins in northeastern B.C., the 471-kilometre Pacific Trail Pipeline and the gas liquefaction facility at Bish Cove near Kitimat.This report by The Canadian Press was first published Dec. 11, 2019.Companies in this story: (TSX:ECA)Dan Healing, The Canadian Press