FY2022 EPS Estimates for Enerplus Co. Reduced by Analyst (NYSE:ERF)

Enerplus Co. (NYSE:ERFGet Rating) (TSE:ERF) – Research analysts at Capital One Financial reduced their FY2022 EPS estimates for Enerplus in a research note issued to investors on Monday, January 23rd. Capital One Financial analyst B. Velie now forecasts that the oil and natural gas company will earn $2.95 per share for the year, down from their previous estimate of $3.03. The consensus estimate for Enerplus’ current full-year earnings is $3.12 per share. Capital One Financial also issued estimates for Enerplus’ Q4 2022 earnings at $0.80 EPS, Q1 2023 earnings at $0.67 EPS, Q2 2023 earnings at $0.63 EPS, Q3 2023 earnings at $0.66 EPS, Q4 2023 earnings at $0.70 EPS, FY2023 earnings at $2.65 EPS and FY2024 earnings at $2.73 EPS.

Enerplus (NYSE:ERFGet Rating) (TSE:ERF) last posted its quarterly earnings results on Thursday, November 3rd. The oil and natural gas company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.02). The company had revenue of $720.53 million during the quarter. Enerplus had a net margin of 34.14% and a return on equity of 88.11%.

Several other analysts have also recently issued reports on ERF. Stifel Nicolaus upped their price target on shares of Enerplus from C$32.00 to C$33.00 in a report on Monday, November 7th. National Bankshares dropped their target price on shares of Enerplus from $26.00 to $21.00 in a report on Friday, September 30th. Barclays started coverage on shares of Enerplus in a report on Wednesday, January 18th. They set an “equal weight” rating on the stock. Royal Bank of Canada increased their target price on shares of Enerplus from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, November 7th. Finally, TD Securities increased their target price on shares of Enerplus from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, November 4th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Enerplus has an average rating of “Moderate Buy” and a consensus price target of $24.75.

Enerplus Trading Down 1.0 %

ERF opened at $17.57 on Wednesday. The stock has a market capitalization of $3.82 billion, a PE ratio of 5.98 and a beta of 2.22. The firm’s fifty day moving average price is $17.36 and its 200 day moving average price is $15.89. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.65 and a quick ratio of 0.65. Enerplus has a 12-month low of $10.63 and a 12-month high of $19.23.

Enerplus Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th were given a dividend of $0.055 per share. The ex-dividend date of this dividend was Tuesday, November 29th. This represents a $0.22 annualized dividend and a dividend yield of 1.25%. This is a positive change from Enerplus’s previous quarterly dividend of $0.05. Enerplus’s dividend payout ratio is currently 7.48%.

Hedge Funds Weigh In On Enerplus

Institutional investors have recently modified their holdings of the company. National Bank of Canada FI grew its position in Enerplus by 98.6% in the 4th quarter. National Bank of Canada FI now owns 587,999 shares of the oil and natural gas company’s stock valued at $10,366,000 after buying an additional 291,885 shares in the last quarter. Bridgefront Capital LLC grew its position in Enerplus by 11.8% in the 3rd quarter. Bridgefront Capital LLC now owns 13,138 shares of the oil and natural gas company’s stock valued at $186,000 after buying an additional 1,390 shares in the last quarter. Advisory Research Inc. grew its position in Enerplus by 16.3% in the 3rd quarter. Advisory Research Inc. now owns 3,404,653 shares of the oil and natural gas company’s stock valued at $48,244,000 after buying an additional 478,275 shares in the last quarter. Balyasny Asset Management LLC grew its position in Enerplus by 2,503.6% in the 3rd quarter. Balyasny Asset Management LLC now owns 1,144,173 shares of the oil and natural gas company’s stock valued at $16,212,000 after buying an additional 1,100,227 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC bought a new position in Enerplus in the 3rd quarter valued at about $51,000. Institutional investors own 53.01% of the company’s stock.

About Enerplus

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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, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.

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