ENCANA CORP. $18.92 - Toronto symbol ECA

ENCANA CORP. $18.92 (Toronto symbol ECA; Shares outstanding: 735.4 million; Market cap: $13.9 billion; TSINetwork Rating: Average; Dividend yield: 4.3%; www.encana.com) uses hydraulic fracturing, or fracking, to recover natural gas from shale deposits. This process involves pumping a mix of water, chemicals and other materials into the shale formations. This fractures the rock and releases the gas.

In December 2011, the U.S. Environmental Protection Agency (EPA) published a draft report that claimed fracking chemicals at Encana’s Wyoming well contaminated local drinking water.

However, Encana disputes the findings. This week, the EPA announced that it would re-test the area’s aquifer as part of a larger study that it is conducting on the impact of fracking on drinking water.

Encana is a buy.

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Blue chip stocks are big, well-established, dividend-paying corporations with strong business prospects. These are companies that also have sound management that should be able to make the right moves to keep competing successfully in a changing marketplace.

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One of the sweetest and most profitable pleasures of successful investing is to buy high-quality “value stocks” (or stocks that are reasonably priced, if not cheap, in relation to its sales, earnings or assets), then hold on to them as mainstream investors recognize the value and push up the share price.

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