Enercare Inc. (ECI) Stock Price Up -0.9% Following Dividend Announcement

Enercare Inc. (TSE:ECI) shares rose 0.9% during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as C$19.65 and last traded at C$19.42. Approximately 233,868 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 274,228 shares. The stock had previously closed at C$19.59.

The newly announced dividend which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date is Tuesday, November 14th. Enercare’s dividend payout ratio is presently 180.00%.

A number of brokerages recently issued reports on ECI. TD Securities lifted their price target on shares of Enercare from C$21.00 to C$23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Desjardins reaffirmed a “buy” rating on shares of Enercare in a report on Wednesday, October 25th. Finally, National Bank Financial reissued an “outperform market weight” rating on shares of Enercare in a research note on Wednesday, August 9th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of C$24.33.

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About Enercare

Enercare Inc is a Canada-based company engaged in home services and sub-metering businesses. The Company operates through two segments: Home Services and Sub-metering. Its Home Services segment is engaged in the provision of water heaters, furnaces, air conditioners and other heating, ventilation and air conditioning (HVAC) rental products, protection plans and related services.

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