Enerplus Corporation (ERF) Receives $14.50 Consensus Target Price from Brokerages
Enerplus Corporation (NYSE:ERF) (TSE:ERF) has received a consensus rating of “Hold” from the eleven brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $14.50.
ERF has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Enerplus Corporation from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Tuesday, June 6th. ValuEngine raised shares of Enerplus Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Capital One Financial Corporation initiated coverage on shares of Enerplus Corporation in a report on Tuesday, July 11th. They issued an “overweight” rating and a $13.00 price target on the stock. Finally, BidaskClub raised shares of Enerplus Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th.
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Shares of Enerplus Corporation (NYSE ERF) traded up 0.67% during midday trading on Friday, reaching $8.99. 694,114 shares of the company traded hands. The company has a 50 day moving average of $8.86 and a 200 day moving average of $8.24. Enerplus Corporation has a 12 month low of $5.61 and a 12 month high of $10.33. The firm has a market capitalization of $2.18 billion, a P/E ratio of 3.00 and a beta of 1.38.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last announced its earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.16. The business had revenue of $191.57 million during the quarter, compared to the consensus estimate of $257.94 million. Enerplus Corporation had a net margin of 103.80% and a return on equity of 7.91%. During the same period in the prior year, the firm earned ($0.77) earnings per share. On average, equities research analysts predict that Enerplus Corporation will post $0.96 earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.0078 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.05%. Enerplus Corporation’s dividend payout ratio (DPR) is 3.14%.
Large investors have recently modified their holdings of the business. Comerica Bank raised its holdings in shares of Enerplus Corporation by 1.3% during the first quarter. Comerica Bank now owns 13,775 shares of the oil and natural gas company’s stock worth $101,000 after purchasing an additional 180 shares during the period. World Asset Management Inc raised its holdings in shares of Enerplus Corporation by 3.9% during the first quarter. World Asset Management Inc now owns 14,959 shares of the oil and natural gas company’s stock worth $120,000 after purchasing an additional 568 shares during the period. Private Capital Management Inc. acquired a new stake in shares of Enerplus Corporation during the second quarter worth $122,000. ETRADE Capital Management LLC raised its holdings in shares of Enerplus Corporation by 5.8% during the second quarter. ETRADE Capital Management LLC now owns 15,052 shares of the oil and natural gas company’s stock worth $122,000 after purchasing an additional 822 shares during the period. Finally, Creative Planning raised its holdings in shares of Enerplus Corporation by 40.5% during the second quarter. Creative Planning now owns 17,605 shares of the oil and natural gas company’s stock worth $143,000 after purchasing an additional 5,074 shares during the period. 50.71% of the stock is currently owned by institutional investors.
About Enerplus Corporation
Enerplus Corporation is an oil and natural gas company. The Company’s oil and natural gas property interests are located in the United States, primarily in North Dakota, Montana, and Pennsylvania, as well as in western Canada in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s oil and natural gas property interests contains proved plus probable gross reserves of approximately 14.3 million barrels (MMbbls) of light and medium crude oil, 39.0 MMbbls of heavy crude oil, 123 MMbbls of tight oil, 18.1 MMbbls of natural gas liquids (NGLs), 126.3 billion cubic feet (Bcf) of conventional natural gas and 1,002.8 Bcf of shale gas, for a total of approximately 382.5 million barrels of oil equivalent (MMBOE).
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