Analysts Set Enerplus Corp. (NYSE:ERF) PT at $10.00
Enerplus Corp. (NYSE:ERF) has earned a consensus rating of “Buy” from the ten ratings firms that are presently covering the company. Three equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $10.00.
Several research analysts have issued reports on ERF shares. Raymond James Financial Inc. started coverage on Enerplus Corp. in a research note on Monday, June 6th. They set an “outperform” rating for the company. Macquarie upgraded Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research note on Monday, June 6th. Canaccord Genuity assumed coverage on Enerplus Corp. in a research note on Wednesday, August 17th. They issued a “buy” rating for the company. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $11.00 target price on shares of Enerplus Corp. in a research note on Wednesday, June 22nd.
A number of institutional investors have recently bought and sold shares of ERF. Norges Bank purchased a new position in Enerplus Corp. during the fourth quarter valued at about $11,211,000. Nordea Investment Management AB purchased a new position in Enerplus Corp. during the second quarter valued at about $735,000. Heathbridge Capital Management Ltd. boosted its position in shares of Enerplus Corp. by 0.4% in the second quarter. Heathbridge Capital Management Ltd. now owns 23,336 shares of the company’s stock worth $191,000 after buying an additional 102 shares during the period. CIBC World Markets Inc. boosted its position in shares of Enerplus Corp. by 6.8% in the first quarter. CIBC World Markets Inc. now owns 141,358 shares of the company’s stock worth $556,000 after buying an additional 9,036 shares during the period. Finally, Swiss National Bank boosted its position in shares of Enerplus Corp. by 18.4% in the second quarter. Swiss National Bank now owns 404,455 shares of the company’s stock worth $2,651,000 after buying an additional 62,755 shares during the period. Institutional investors and hedge funds own 43.25% of the company’s stock.
Shares of Enerplus Corp. (NYSE:ERF) opened at 6.69 on Thursday. The firm’s 50-day moving average price is $6.73 and its 200 day moving average price is $5.82. Enerplus Corp. has a 12-month low of $1.84 and a 12-month high of $7.82. The firm’s market cap is $1.61 billion.
Enerplus Corp. (NYSE:ERF) last released its quarterly earnings data on Friday, August 5th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by $0.67. Enerplus Corp. had a negative return on equity of 60.19% and a negative net margin of 155.95%. The company had revenue of $152.40 million for the quarter, compared to analyst estimates of $158.40 million. During the same quarter in the prior year, the company earned ($1.52) earnings per share. On average, equities analysts expect that Enerplus Corp. will post ($0.94) earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 29th will be issued a $0.0076 dividend. This represents a $0.09 annualized dividend and a yield of 1.36%. The ex-dividend date is Tuesday, September 27th. Enerplus Corp.’s dividend payout ratio is -1.97%.
About Enerplus Corp.
Enerplus Corporation is an energy producer. The Company’s capital program is focused on the development of its crude oil and natural gas core areas of operation, which includes its North Dakota and Montana crude oil assets in the Williston Basin, and its natural gas interests in northeast Pennsylvania.
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