Enerplus (TSE:ERF) Reaches New 12-Month High on Analyst Upgrade


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Enerplus Co. (TSE:ERF) (NYSE:ERF) hit a new 52-week high on Tuesday after Royal Bank of Canada raised their price target on the stock from C$6.00 to C$8.00. Royal Bank of Canada currently has an outperform rating on the stock. Enerplus traded as high as C$6.40 and last traded at C$6.35, with a volume of 2022308 shares trading hands. The stock had previously closed at C$6.21.

Other equities analysts have also recently issued reports about the company. Tudor Pickering restated a “buy” rating and set a C$7.00 target price on shares of Enerplus in a research report on Tuesday, January 26th. Tudor Pickering & Holt set a C$7.00 price target on Enerplus and gave the stock a “buy” rating in a research note on Tuesday, January 26th. Scotiabank lifted their price target on Enerplus from C$4.50 to C$5.75 in a research note on Thursday, January 14th. National Bank Financial dropped their price target on Enerplus from C$9.50 to C$7.50 and set an “outperform” rating for the company in a research note on Friday. Finally, Raymond James set a C$6.50 price target on Enerplus and gave the stock an “outperform” rating in a research note on Monday. Seven investment analysts have rated the stock with a buy rating, Enerplus currently has a consensus rating of “Buy” and a consensus target price of C$6.86.

The firm has a 50-day moving average of C$4.81 and a 200-day moving average of C$3.61. The firm has a market capitalization of C$1.42 billion and a P/E ratio of -1.50. The company has a debt-to-equity ratio of 98.43, a quick ratio of 0.57 and a current ratio of 0.59.

The company also recently declared a mar 21 dividend, which will be paid on Monday, March 15th. Stockholders of record on Friday, February 26th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, February 25th. Enerplus’s payout ratio is -2.89%.

Enerplus Company Profile (TSE:ERF)

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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