ENCANA CORP. $15 - Toronto symbol ECA

ENCANA CORP. $15 (Toronto symbol ECA; Conservative Growth Portfolio, Resources sector; Shares outstanding: 741.0 million; Market cap: $11.1 billion; Price-to-sales ratio: 1.6; Dividend yield: 2.2%; TSINetwork Rating: Average; www.encana.com) has agreed to sell its natural gas pipelines and compression facilities in B.C.’s Montney region to a partnership between Veresen Inc. (Toronto symbol VSN) and investment firm KKR & Co. (New York symbol KKR). Encana will continue to own and operate gas wells in this region.

Encana will get $412 million (Canadian) when the sale closes in the next few weeks. To put that in context, it earned $281 million U.S., or $0.38 U.S. a share, in the quarter ended September 30, 2014.

Encana is a buy.

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