EnerCare was Upgraded to a Buy Rating at RBC Capital

By Jason Carr

EnerCare (TSX: ECI), the Financial sector company, has received a rating update from a Wall Street analyst today. RBC Capital’s analyst Nelson Ng upgraded ECI to Buy , with a C$26 price target.

According to TipRanks.com, Ng is a 4-star analyst with an average return of 22.1% and a 90.9% success rate. Ng covers the Utilities sector, focusing on stocks such as Atlantic Power Corp, Abengoa Yield PLC, and Pattern Energy.

EnerCare has an analyst consensus of Strong Buy, with a price target consensus of C$22.50.

Based on EnerCare’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of C$293 million and quarterly net profit of C$17.55 million. In comparison, last year the company earned revenue of C$143 million and had a net profit of C$8.2 million.

EnerCare, Inc. engages in the provision of heating ventilation and air-conditioning services. It operates through the following segments: Home Services, Sub-metering, and Corporate. The Home Services segment rent and leases out water heaters, heating ventilation and air-conditioning systems. The Sub-metering segment provides services and equipment to sub-metering and remote measurement of electricity and water in residential and commercial properties. The Corporate segment manages and operates administrative services. The company was founded in December 2002 and is headquartered in Toronto, Canada.

The company’s shares closed last Tuesday at $21.64.