Credit Suisse Group AG Reiterates $14.00 Price Target for Enerplus Corp. (ERF)
Enerplus Corp. (NYSE:ERF) (TSE:ERF) has been assigned a $14.00 target price by Credit Suisse Group AG in a note issued to investors on Monday. The firm presently has a “buy” rating on the stock. Credit Suisse Group AG’s target price points to a potential upside of 79.26% from the stock’s previous close.
ERF has been the topic of a number of other research reports. National Bank Financial reaffirmed an “outperfrom under weight” rating on shares of Enerplus Corp. in a report on Monday, November 14th. Barclays PLC reaffirmed a “buy” rating on shares of Enerplus Corp. in a report on Thursday, October 6th. Finally, Canaccord Genuity began coverage on Enerplus Corp. in a report on Wednesday, August 17th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Enerplus Corp. presently has a consensus rating of “Buy” and an average price target of $8.50.
Shares of Enerplus Corp. (NYSE:ERF) traded down 4.417% on Monday, reaching $7.465. The company had a trading volume of 1,000,108 shares. Enerplus Corp. has a 12 month low of $1.84 and a 12 month high of $8.24. The company’s market capitalization is $1.80 billion. The stock has a 50 day moving average price of $7.20 and a 200-day moving average price of $6.56.
Enerplus Corp. (NYSE:ERF) last released its earnings results on Monday, November 14th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.43. Enerplus Corp. had a negative return on equity of 81.49% and a negative net margin of 152.64%. The firm had revenue of $188.30 million for the quarter, compared to the consensus estimate of $173.16 million. During the same period in the prior year, the business earned ($1.42) EPS. Analysts forecast that Enerplus Corp. will post ($1.16) EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a $0.007 dividend. This represents a $0.08 annualized dividend and a yield of 1.08%. The ex-dividend date is Monday, November 28th. Enerplus Corp.’s dividend payout ratio is currently -2.37%.
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A number of hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC acquired a new stake in Enerplus Corp. during the second quarter valued at approximately $100,000. Advisor Group Inc. acquired a new stake in Enerplus Corp. during the second quarter valued at approximately $111,000. San Francisco Sentry Investment Group CA boosted its stake in Enerplus Corp. by 1.6% in the second quarter. San Francisco Sentry Investment Group CA now owns 17,016 shares of the company’s stock valued at $112,000 after buying an additional 262 shares in the last quarter. Creative Planning boosted its stake in Enerplus Corp. by 27.5% in the second quarter. Creative Planning now owns 18,706 shares of the company’s stock valued at $123,000 after buying an additional 4,029 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Enerplus Corp. by 242.5% in the third quarter. Tower Research Capital LLC TRC now owns 20,421 shares of the company’s stock valued at $131,000 after buying an additional 14,458 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.
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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