Enerplus Corp (ERF) Given Average Recommendation of “Buy” by Brokerages
Shares of Enerplus Corp (TSE:ERF) (NYSE:ERF) have received a consensus rating of “Buy” from the nine analysts that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$15.69.
ERF has been the subject of several research reports. BMO Capital Markets reissued an “outperform” rating and set a C$16.00 price objective on shares of Enerplus in a research report on Friday, November 10th. TD Securities raised their target price on shares of Enerplus from C$15.00 to C$17.00 and gave the company a “buy” rating in a research report on Friday, December 15th. Barclays raised their target price on shares of Enerplus from C$15.00 to C$16.00 in a research report on Monday, November 13th. Raymond James Financial raised their target price on shares of Enerplus from C$15.00 to C$15.50 and gave the company an “outperform” rating in a research report on Friday, November 10th. Finally, National Bank Financial raised their target price on shares of Enerplus from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research report on Friday, November 10th.
Shares of Enerplus (TSE:ERF) traded down C$0.09 during mid-day trading on Tuesday, hitting C$12.05. 740,230 shares of the stock traded hands, compared to its average volume of 1,123,988. Enerplus has a 52 week low of C$8.97 and a 52 week high of C$13.35. The company has a market capitalization of $2,920.00, a P/E ratio of 2.92 and a beta of 1.02.
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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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