ECA - Encana Corporation

NYSE - NYSE Delayed Price. Currency in USD
3.7900
-0.2500 (-6.19%)
At close: 4:00PM EST
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Previous Close4.0400
Open3.9600
Bid3.7900 x 28000
Ask3.8000 x 29200
Day's Range3.7000 - 3.9600
52 Week Range3.7000 - 7.7000
Volume35,871,242
Avg. Volume20,510,890
Market Cap4.812B
Beta (5Y Monthly)N/A
PE Ratio (TTM)3.66
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est6.59
  • CNW Group

    Encana Completes Reorganization and Establishes Corporate Domicile in the U.S.

    CALGARY , Jan. 24, 2020 /CNW/ - Encana Corporation (NYSE, TSX: ECA) announced today they have completed a previously announced series of reorganization transactions (collectively, the "Reorganization"), resulting in the company: (i) establishing its corporate domicile in the U.S.; (ii) rebranding under the name Ovintiv Inc. ("Ovintiv"); and (iii) completing a consolidation and share exchange for effectively one share of common stock of Ovintiv for every five common shares of Encana. The Company received very strong securityholder support with more than 90% of votes cast in favor of the Reorganization.

  • Farewell Encana, Hello Brookfield Property in Canadian Index Rejig
    Bloomberg

    Farewell Encana, Hello Brookfield Property in Canadian Index Rejig

    (Bloomberg) -- The time has come for Canadian index investors to say goodbye to Encana Corp., a stalwart of the nation’s energy sector with roots going back to the late 1800s.On Friday, shares of the oil and gas company will be removed from the S&P/TSX Composite and S&P/TSX 60 indexes after it won investor approval to relocate to the U.S. and rebrand under the name Ovintiv. While Encana will leave a hole on the key stock gauge, Brookfield Property Partners LP will replace it on the large-cap index, according to a statement from S&P Dow Jones Indices.“This could possibly be the largest index event for the Canadian market,” Bryan Chuah, an analyst at Canadian Imperial Bank of Commerce, said in a report. About 195 million Encana shares will need to be sold by Canadian indexers -- valued at about C$1.1. billion ($840 billion), he said, as its new U.S. domicile makes it ineligible for inclusion up north. Encana has about 1.3 billion shares outstanding, according to data compiled by Bloomberg.Encana shares have been in a downward spiral for more than a decade. In 2009, the company spun out its oil-sands assets into Cenovus Energy Inc. in a bid to unlock shareholder value and focus on natural gas. That didn’t work so well, as a glut of North American gas production has weighed on prices ever since.Chief Executive Officer Doug Suttles, who took the reins in 2013, shifted the company away from gas production and into shale oil, especially in Texas’s Permian Basin. Its market value has tumbled about C$63 billion to C$6.7 billion since its 2008 peak.In comes the real estate arm of Brookfield Asset Management Inc.Units of Brookfield Property, a global real estate company, have rallied almost 10% this year to market value of C$25.8 billion. Prior to this addition, the S&P/TSX 60 had zero representation in the real estate sector.Encana announced last year that it will move its head office from Calgary to Denver to allow access to larger pools of investment capital, including U.S. index funds and passively managed accounts.Oil-Sands GloomThe company may be added to the S&P MidCap 400 Index in the U.S., generating demand for 90 million or more of the company’s shares, Randy Ollenberger, an analyst at Bank of Montreal, said in a note last week.Encana’s move south only intensified the gloom enveloping the Canadian energy industry after foreign companies sold more than $30 billion of assets in the past three years amid a lack of pipeline space that has choked off prospects for growth.Encana joins pipeline owner TransCanada Corp., which changed its name to TC Energy Corp. earlier this year, in dropping the link to Canada from its name.Encana traces its history to the 1880s, when the Canadian Pacific Railway Ltd. accidentally discovered natural gas while drilling a water well for workers. The company was eventually spun out from Canadian Pacific and took the name EnCana in 2002.\--With assistance from Aoyon Ashraf.To contact the reporters on this story: Divya Balji in Toronto at dbalji1@bloomberg.net;Kevin Orland in Calgary at korland@bloomberg.netTo contact the editors responsible for this story: Kyung Bok Cho at kcho7@bloomberg.net, Jacqueline Thorpe, David ScanlanFor 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.

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  • 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 .

  • Encana to Shift Base to the United States, Rebrand as Ovintiv
    Zacks

    Encana to Shift Base to the United States, Rebrand as Ovintiv

    Through this restructuring, Encana (ECA) will effectively exchange Ovintiv's one share of common stock for every five common shares of Encana.

  • PR Newswire

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

    Encana Corporation (NYSE, TSX: ECA) today provided participant details for 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.

  • Reuters

    Canada's Encana gets shareholders' approval to move base to United States

    The company said 90% of the shareholders voted in favor of the company moving its domicile to the United States and rebranding to Ovintiv Inc. Investor Letko, Brosseau & Associates Inc, which owns about 4% stake in Encana, had said in November it will vote against the company's proposed exit from Canada, saying the move would cause significant losses for Canadian shareholders.

  • 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.

  • Rigzone.com

    Encana Investors Approve US Move

    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.

  • Hedge Fund Favorites vs. EnCana Corporation (ECA) In 2019
    Insider Monkey

    Hedge Fund Favorites vs. EnCana Corporation (ECA) In 2019

    2018's fourth quarter was a rough one for investors and many hedge funds, which were naturally unable to overcome the big dip in the broad market, as the S&P 500 fell by about 4.8% during 2018 and average hedge fund losing about 1%. The Russell 2000, composed of smaller companies, performed even worse, trailing the […]

  • Is Encana (ECA) Stock Undervalued Right Now?
    Zacks

    Is Encana (ECA) Stock Undervalued Right Now?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

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    11 Foreign Stocks With The Lowest Earnings Multiples

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  • Reuters

    UPDATE 1-Canada's Encana files paperwork for shifting base to U.S.

    Canadian oil and gas company Encana Corp on Wednesday filed paperwork with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities as part of a plan to shift its base to the United States. The Calgary-based company in October became the latest to decide to move away from Canada as the nation battles with pipeline capacity shortages. Encana, once among Canada's largest oil companies, has been shifting its focus to the United States and earlier this year bought Texas-based Newfield Exploration Co for $5.5 billion.

  • Reuters

    Canada's Encana files paperwork for shifting base to U.S

    The Calgary-based company in October became the latest to decide to move away from Canada as the nation battles with pipeline capacity shortages. Encana, once among Canada's largest oil companies, has been shifting its focus to the United States and earlier this year bought Texas-based Newfield Exploration Co for $5.5 billion. Encana will change its name to Ovintiv Inc and continue to be traded both on the Toronto and New York stock exchanges under the ticker symbol 'OVV'.

  • 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.

  • Hedge Funds Turning Their Backs On EnCana Corporation (ECA)
    Insider Monkey

    Hedge Funds Turning Their Backs On EnCana Corporation (ECA)

    "Since 2006, value stocks (IVE vs IVW) have underperformed 11 of the 13 calendar years and when they beat growth, it wasn't by much. Cumulatively, through this week, it has been a 122% differential (up 52% for value vs up 174% for growth). This appears to be the longest and most severe drought for value […]