Enerplus Corporation (ERF) Receives Average Recommendation of “Buy” from Analysts
Enerplus Corporation (NYSE:ERF) (TSE:ERF) has been given a consensus recommendation of “Buy” by the eleven ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $14.50.
ERF has been the subject of several analyst reports. Zacks Investment Research upgraded Enerplus Corporation from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Tuesday, June 6th. ValuEngine upgraded Enerplus Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Capital One Financial Corporation began coverage on Enerplus Corporation in a research report on Tuesday, July 11th. They issued an “overweight” rating and a $13.00 target price on the stock. Finally, BidaskClub upgraded Enerplus Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th.
Enerplus Corporation (ERF) traded up 0.31% during mid-day trading on Wednesday, reaching $9.62. The company’s stock had a trading volume of 506,010 shares. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 3.07 and a beta of 1.39. Enerplus Corporation has a 12-month low of $6.26 and a 12-month high of $10.33. The firm’s 50 day moving average price is $9.21 and its 200 day moving average price is $8.37.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last released its quarterly earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.16. The firm had revenue of $191.57 million for the quarter, compared to analyst estimates of $257.94 million. Enerplus Corporation had a net margin of 103.80% and a return on equity of 7.91%. During the same quarter in the previous year, the company earned ($0.77) EPS. On average, equities analysts predict that Enerplus Corporation will post $0.95 earnings per share for the current year.
The business also recently announced a monthly dividend, which will be paid on Friday, October 13th. Investors of record on Thursday, September 28th will be issued a $0.008 dividend. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $0.10 annualized dividend and a yield of 1.00%. Enerplus Corporation’s dividend payout ratio (DPR) is presently 3.48%.
A number of large investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers acquired a new position in Enerplus Corporation during the second quarter worth $2,628,000. Scotia Capital Inc. boosted its position in shares of Enerplus Corporation by 129.1% during the second quarter. Scotia Capital Inc. now owns 154,269 shares of the oil and natural gas company’s stock worth $1,244,000 after buying an additional 86,925 shares during the period. Bank of Nova Scotia boosted its position in shares of Enerplus Corporation by 26.6% during the second quarter. Bank of Nova Scotia now owns 106,946 shares of the oil and natural gas company’s stock worth $868,000 after buying an additional 22,451 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Enerplus Corporation by 372.3% during the second quarter. Cubist Systematic Strategies LLC now owns 110,190 shares of the oil and natural gas company’s stock worth $895,000 after buying an additional 86,859 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Enerplus Corporation by 2.1% in the second quarter. Royal Bank of Canada now owns 10,110,081 shares of the oil and natural gas company’s stock valued at $82,094,000 after buying an additional 203,904 shares in the last quarter. Institutional investors own 50.71% of the company’s stock.
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Enerplus Corporation Company Profile
Enerplus Corporation is an oil and natural gas company. The Company’s oil and natural gas property interests are located in the United States, primarily in North Dakota, Montana, and Pennsylvania, as well as in western Canada in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s oil and natural gas property interests contains proved plus probable gross reserves of approximately 14.3 million barrels (MMbbls) of light and medium crude oil, 39.0 MMbbls of heavy crude oil, 123 MMbbls of tight oil, 18.1 MMbbls of natural gas liquids (NGLs), 126.3 billion cubic feet (Bcf) of conventional natural gas and 1,002.8 Bcf of shale gas, for a total of approximately 382.5 million barrels of oil equivalent (MMBOE).
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