Enerplus (TSE:ERF) Sets New 12-Month High Following Analyst Upgrade

Enerplus Co. (TSE:ERF) (NYSE:ERF) shares reached a new 52-week high during mid-day trading on Thursday after Tudor Pickering & Holt raised their price target on the stock from C$10.00 to C$13.00. Tudor Pickering & Holt currently has a buy rating on the stock. Enerplus traded as high as C$11.45 and last traded at C$11.44, with a volume of 1047239 shares traded. The stock had previously closed at C$10.90.

ERF has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a C$11.00 price objective on shares of Enerplus in a research note on Monday, August 9th. Scotiabank raised shares of Enerplus from a “sector perform” rating to a “buy” rating and set a C$10.00 price objective on the stock in a research note on Thursday, August 26th. Tudor Pickering raised their price objective on shares of Enerplus to C$13.00 and gave the stock a “buy” rating in a research note on Thursday. National Bank Financial dropped their price objective on shares of Enerplus from C$14.00 to C$13.50 and set an “outperform” rating on the stock in a research note on Friday, August 6th. Finally, National Bankshares dropped their price objective on shares of Enerplus from C$14.00 to C$13.50 and set an “outperform” rating on the stock in a research note on Friday, August 6th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$11.43.

In related news, Senior Officer Jodine Julene Jenson Labrie purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 31st. The shares were purchased at an average price of C$7.47 per share, with a total value of C$29,880.00. Following the purchase, the insider now owns 82,468 shares of the company’s stock, valued at C$616,035.96.

The company has a debt-to-equity ratio of 210.53, a quick ratio of 0.46 and a current ratio of 0.47. The firm’s 50 day simple moving average is C$8.28 and its 200-day simple moving average is C$7.87. The company has a market cap of C$2.94 billion and a price-to-earnings ratio of -7.47.

Enerplus (TSE:ERF) (NYSE:ERF) last posted its quarterly earnings results on Thursday, August 5th. The oil and natural gas company reported C$0.27 EPS for the quarter, missing the consensus estimate of C$0.36 by C($0.09). The firm had revenue of C$408.62 million during the quarter. As a group, sell-side analysts expect that Enerplus Co. will post 1.4199999 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 31st were issued a dividend of $0.038 per share. This represents a $0.15 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Monday, August 30th. This is a positive change from Enerplus’s previous quarterly dividend of $0.01. Enerplus’s payout ratio is currently -8.69%.

About Enerplus (TSE:ERF)

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

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