Encana sharpens its focus

Article Excerpt

ENCANA $10.53 (Toronto symbol ECA; Shares outstanding: 849.9 million; Market cap: $9.0 billion; TSINetwork Rating: Average; Dividend yield: 0.7%; www.encana.com) will sell its Gordondale land and infrastructure in northwestern Alberta to Birchcliff Energy Ltd. (Toronto symbol BIR) for $625 million in cash. Birchcliff is a recommendation of Stock Pickers Digest, our newsletter focused on aggressive investing. Gordondale accounts for 7% of Encana’s production. But the sale will let it focus on more promising projects in its four key areas: Montney and Duvernay in Alberta, and Eagle Ford and Permian, both in Texas. Encana is a buy. buy…