Brokerages Set Enerplus Corp (ERF) Target Price at $14.67

Enerplus Corp (NYSE:ERF) (TSE:ERF) has been given a consensus recommendation of “Buy” by the seven research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $14.67.

A number of analysts have commented on the company. TheStreet upgraded Enerplus from a “d+” rating to a “c+” rating in a research report on Monday, February 25th. Canaccord Genuity reiterated a “buy” rating and set a $18.00 target price on shares of Enerplus in a research report on Tuesday, April 9th. Zacks Investment Research upgraded Enerplus from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Finally, ValuEngine downgraded Enerplus from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 24th.

A number of institutional investors and hedge funds have recently bought and sold shares of ERF. Wells Fargo & Company MN raised its holdings in shares of Enerplus by 26.0% in the third quarter. Wells Fargo & Company MN now owns 58,524 shares of the oil and natural gas company’s stock worth $722,000 after acquiring an additional 12,063 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Enerplus by 7.1% in the third quarter. Bank of New York Mellon Corp now owns 147,127 shares of the oil and natural gas company’s stock worth $1,816,000 after acquiring an additional 9,723 shares during the last quarter. FMR LLC raised its holdings in shares of Enerplus by 62.3% in the third quarter. FMR LLC now owns 420,960 shares of the oil and natural gas company’s stock worth $5,196,000 after acquiring an additional 161,650 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Enerplus in the third quarter worth $207,000. Finally, Vanguard Group Inc. raised its holdings in shares of Enerplus by 4.8% in the third quarter. Vanguard Group Inc. now owns 6,013,637 shares of the oil and natural gas company’s stock worth $74,208,000 after acquiring an additional 276,520 shares during the last quarter. Institutional investors own 57.59% of the company’s stock.

Shares of Enerplus stock traded up $0.06 during trading on Thursday, reaching $8.55. The company’s stock had a trading volume of 843,068 shares, compared to its average volume of 726,899. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.78 and a quick ratio of 1.78. Enerplus has a 12-month low of $6.84 and a 12-month high of $13.87. The company has a market cap of $2.01 billion, a PE ratio of 7.84 and a beta of 1.65.

Enerplus (NYSE:ERF) (TSE:ERF) last posted its quarterly earnings results on Friday, February 22nd. The oil and natural gas company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.04. Enerplus had a return on equity of 12.78% and a net margin of 32.58%. The firm had revenue of $247.23 million for the quarter, compared to the consensus estimate of $248.00 million. During the same period in the previous year, the business earned $0.06 earnings per share. On average, equities research analysts anticipate that Enerplus will post 1.05 EPS for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.0075 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.09 dividend on an annualized basis and a yield of 1.05%. Enerplus’s payout ratio is 8.26%.

Enerplus Company Profile

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company's oil and natural gas properties are located primarily in North Dakota, Montana, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.

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