This shift benefits investors

Article Excerpt

OVINTIV INC. $22.39, is a buy for the Resources sector of your portfolio. The energy producer (Toronto symbol OVV; Shares outstanding: 259.8 million; Market cap: $27.5 billion; TSINetwork Rating: Average; Dividend yield: 2.2%) is the former Encana Corp. Shareholders and regulators recently approved Encana’s plan to become a U.S.-based firm and change its name to Ovintiv Inc. Effective January 27, 2020, the company consolidated its shares: investors received one share of Ovintiv for every five Encana shares they held. The new shares now trade on both the Toronto and New York exchanges under the “OVV” symbol. The move to the U.S. will make it easier for the company to tap new sources of capital to help fund its future growth. More U.S.-based ETFs and index funds will also add the stock to their portfolios, which should help push up the shares for its investors. investors. …

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