Encana Corporation (TSX:ECA)
Historical Stock Chart
3 Years : From Oct 2012 to Oct 2015
Natural gas has been in a slump recently as forecasts for warmer temperatures and weaker demand for gas-fired heating have caused prices for the commodity to fall sharply. The United States Natural Gas Fund (UNG), which is designed to track the changes in the price of natural gas, has fallen over 11 percent in the past week. The Paragon Report examines investing opportunities in the Natural Gas Industry and provides equity research on EnCana Corp. (NYSE: ECA)(TSX: ECA) and Cheniere Energy, Inc. (NYSE: LNG)
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Weather forecasts have called for above average temperatures in the coming weeks. Approximately 50 percent of households in the United States are heated with natural gas. Recent data from Weather Derivatives show that heating demand will be 34 percent below average for the 48 contiguous states from Dec. 4 through Dec. 8. The forecast for lower demand has seen prices for natural gas fall 5.2 percent in the past week.
"The earlier seasonal rally clearly expressed overly optimistic expectations for initial heating demand. Good demand may still materialize, but the enthusiastic aspirations of participants need to be worked off," wrote Mike Fitzpatrick, editor of the Energy OverView newsletter.
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Encana is a leading North American energy producer that is focused on growing its strong portfolio of diverse resource plays producing natural gas, oil and natural gas liquids. Oil and natural gas liquids (NGLs) production volumes in the third quarter averaged over 30,000 barrels per day, an increase of nearly 6,000 bbls/d compared to the third quarter of 2011.
Cheniere Energy is a Houston-based energy company primarily engaged in LNG-related businesses. Construction of their Sabine Pass LNG Terminal began in August and by late 2015 the terminal is expected to be online. The company reported a net loss of $109.0 million for the third quarter of 2012, compared to a net loss of $53.9 million in the year-ago period.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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