Enerplus (NYSE:ERF) PT Raised to C$13.50

Enerplus (NYSE:ERF) (TSE:ERF) had its target price raised by equities researchers at Scotiabank from C$10.00 to C$13.50 in a research report issued on Thursday, The Fly reports. The brokerage currently has an “outperform” rating on the oil and natural gas company’s stock.

Several other brokerages have also weighed in on ERF. Desjardins upped their target price on shares of Enerplus from C$10.00 to C$11.50 and gave the stock a “buy” rating in a research report on Tuesday, August 10th. Stifel Nicolaus upped their target price on shares of Enerplus from C$13.75 to C$14.00 and gave the stock a “buy” rating in a research report on Thursday, September 23rd. Raymond James upped their target price on shares of Enerplus from C$11.00 to C$11.50 and gave the stock an “outperform” rating in a research report on Tuesday, August 31st. Zacks Investment Research raised shares of Enerplus from a “sell” rating to a “hold” rating in a report on Wednesday, October 6th. Finally, CIBC upped their price target on shares of Enerplus from C$10.00 to C$13.00 and gave the company an “outperform” rating in a report on Wednesday, July 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $11.38.

Shares of Enerplus stock traded up $0.41 on Thursday, reaching $9.18. 36,853 shares of the stock were exchanged, compared to its average volume of 1,921,366. Enerplus has a 1-year low of $1.70 and a 1-year high of $9.21. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.87. The business has a fifty day moving average price of $6.57 and a two-hundred day moving average price of $6.32. The firm has a market capitalization of $2.36 billion, a PE ratio of -7.46 and a beta of 3.24.

Enerplus (NYSE:ERF) (TSE:ERF) last issued its earnings results on Thursday, August 5th. The oil and natural gas company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). Enerplus had a positive return on equity of 26.29% and a negative net margin of 32.54%. The company had revenue of $332.65 million for the quarter. Research analysts expect that Enerplus will post 1.16 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC lifted its stake in shares of Enerplus by 10.8% during the second quarter. HighTower Advisors LLC now owns 18,291 shares of the oil and natural gas company’s stock valued at $130,000 after buying an additional 1,776 shares during the period. CWM Advisors LLC increased its position in Enerplus by 3.1% during the second quarter. CWM Advisors LLC now owns 59,532 shares of the oil and natural gas company’s stock worth $428,000 after purchasing an additional 1,804 shares during the last quarter. Quadrant Capital Group LLC increased its position in Enerplus by 87.1% during the second quarter. Quadrant Capital Group LLC now owns 5,323 shares of the oil and natural gas company’s stock worth $38,000 after purchasing an additional 2,478 shares during the last quarter. Paloma Partners Management Co increased its position in Enerplus by 18.7% during the first quarter. Paloma Partners Management Co now owns 24,645 shares of the oil and natural gas company’s stock worth $123,000 after purchasing an additional 3,887 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Enerplus by 33.2% during the first quarter. Van ECK Associates Corp now owns 28,585 shares of the oil and natural gas company’s stock worth $143,000 after purchasing an additional 7,131 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Enerplus Company Profile

Enerplus Corp. engages in the exploration and production of crude oil and natural gas. It conducts operations in Willston Basin, Marcellus Shale, and Canadian Waterfloods. The company was founded in 1986 and is headquartered in Calgary, Canada.

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