Encana tightens its focus

Article Excerpt

ENCANA CORP. $20.55 (Toronto symbol ECA; Shares outstanding: 737.6 million; Market cap: $15.2 billion; TSINetwork Rating: Average; Dividend yield: 3.8%; www.encana.com) has agreed to sell some of its natural gas properties in the Barnett Shale area of northern Texas to EnerVest Ltd. for $975 million (all amounts except share price and market cap in U.S. dollars). The sale is part of Encana’s ongoing plan to focus on its main properties in Alberta, B.C., Wyoming, Colorado and Louisiana. Including this sale, Encana has sold $1.7 billion of properties in 2011. That’s within its target of $1 billion to $2 billion. Encana is a buy. buy…