RBC Capital Reiterates Their Buy Rating on EnerCare

By Carrie Williams

Wall Street analyst has provided a review for the Financial company on October 13, but retained the same rating on the stock. EnerCare (TSX: ECI) received a Buy on October 13 from RBC Capital’s analyst Robert Kwan, with a C$26 price target.

According to TipRanks.com, Kwan is a top 100 analyst with an average return of 11.6% and a 78.7% success rate. Kwan covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, Pattern Energy, and TransAlta.

EnerCare has an analyst consensus of Moderate Buy, with a price target consensus of C$24.33.

Based on EnerCare’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of C$342 million and quarterly net profit of C$21.1 million. In comparison, last year the company earned revenue of C$316 million and had a net profit of C$19.33 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 company’s shares closed on Friday at C$20.69.