BMO Capital Markets Reiterates Outperform Rating for Enerplus Corp (ERF)
Enerplus Corp (TSE:ERF) (NYSE:ERF)‘s stock had its “outperform” rating reiterated by equities research analysts at BMO Capital Markets in a research report issued to clients and investors on Friday. They currently have a C$16.00 price objective on the oil and natural gas company’s stock. BMO Capital Markets’ price target suggests a potential upside of 28.41% from the company’s current price.
Several other brokerages also recently commented on ERF. Barclays PLC reduced their target price on Enerplus Corp from C$15.00 to C$14.00 in a report on Monday, July 24th. Raymond James Financial, Inc. boosted their target price on Enerplus Corp from C$13.50 to C$14.25 and gave the stock an “outperform” rating in a report on Monday, August 14th. Finally, TD Securities boosted their target price on Enerplus Corp from C$13.00 to C$15.00 in a report on Monday, August 14th. Ten research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of C$15.68.
Shares of Enerplus Corp (TSE ERF) remained flat at $C$12.46 on Friday. The company had a trading volume of 1,020,789 shares, compared to its average volume of 1,137,146. Enerplus Corp has a twelve month low of C$8.50 and a twelve month high of C$13.55.
In related news, Director Glen Dawson Roane sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of C$12.19, for a total value of C$243,800.00.
About Enerplus Corp
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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