One of the Best Penny Stocks to Buy Today Could Jump More Than 300%

It's earnings season, and if earnings are good, stocks can gain rapidly. And one of the best penny stocks to buy today could rise by nearly 400%.

You see, penny stocks, those that sell for $5 and under, can outpace the gains of other stocks because they can move upward significantly on just pennies to the upside.

And earnings season is a great opportunity to invest. In fact, about 80% of the total annual move in a stock, on average, happens when earnings are being reported.

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One of last month's penny stock winners, Revolution Lighting Technologies Inc. (NASDAQ: RVLT), exemplifies this type of rapid price move. On July 10, Revolution soared on news that the Nasdaq exchange had given it a listing extension.

RVLT rose 64% on the week - but the 64% equaled only $0.17 per share.

That made it one of the top penny stocks now, but those gains are likely in the past. Instead, we'll show you a penny stock with true upside potential.

Our best penny stock to buy today has a perfect 4.75 Money Morning Stock VQScore™. That means it's poised for a breakout.

The top penny stock today is in the field of this energy exploration, which is in the middle of a huge industrywide boom.

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In fact, the consumption of natural gas rose 4.8% last year, the fastest growth in eight years. The Energy Information Administration forecasts consumption could climb up to 7% in the next several years.

That kind of growth is a large catalyst for the stock.

And that's giving it 372% upside...

Our Best Penny Stock to Buy Today

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Encana Corp. (NYSE: ECA) is based in Canada and engaged in both oil and natural gas. It's been around since 2002 and is in the Forbes Global 2000.

Encana is a significant company in the energy field in North America.

Last year, ECA produced natural gas of 1.158 billion cubic feet and oil of 89.9 thousand barrels daily, making it one of North America's largest producers.

ECA holds 1.7 million net acres in Canada and 1.9 million in the United States, which is the primary reason that the company is able to have such a significant output.

The enormous size means it can easily meet - and benefit from - the global demand for natural gas.

Over the past three years, the company's sales have risen 73%, and profits last year climbed 29%.

Wall Street analysts think the stock could rise as much as 372%, to $21 per share from today's share price of $4.45.

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