WTI crude oil for February delivery was gaining 1.6% to $56.16 a barrel Tuesday morning, and Brent crude oil for February delivery was gaining 0.8% to $60.57 a barrel.
On Monday, Encana announced it will sell some of the natural gas gathering and compression facilities it jointly owns with a unit of Mitsubishi in British Columbia to Veresen Midstream. The Calgary-based Encana will receive about C$412 million from the sale plus actual costs accrued in 2015.
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TheStreet Ratings team rates ENCANA CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ENCANA CORP (ECA) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."