Enerplus Corporation (ERF) Receives $14.17 Average Target Price from Brokerages
Shares of Enerplus Corporation (NYSE:ERF) (TSE:ERF) have received an average recommendation of “Buy” from the ten ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $14.17.
A number of research firms recently commented on ERF. Zacks Investment Research raised Enerplus from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Monday, November 13th. Canaccord Genuity reissued a “buy” rating and issued a $16.00 price target on shares of Enerplus in a research report on Thursday, November 9th. CIBC began coverage on Enerplus in a research report on Wednesday, October 18th. They issued a “sector outperform” rating for the company. Scotiabank reissued a “buy” rating and issued a $16.00 price target on shares of Enerplus in a research report on Tuesday, October 10th. Finally, ValuEngine raised Enerplus from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd.
Several institutional investors have recently made changes to their positions in ERF. Guardian Capital LP purchased a new stake in shares of Enerplus during the 2nd quarter valued at $41,357,000. Denver Investment Advisors LLC increased its position in shares of Enerplus by 114.7% during the 2nd quarter. Denver Investment Advisors LLC now owns 2,936,157 shares of the oil and natural gas company’s stock valued at $23,842,000 after purchasing an additional 1,568,465 shares during the last quarter. Intact Investment Management Inc. increased its position in shares of Enerplus by 1,293.4% during the 2nd quarter. Intact Investment Management Inc. now owns 1,248,450 shares of the oil and natural gas company’s stock valued at $13,050,000 after purchasing an additional 1,158,850 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Enerplus by 101.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,901,390 shares of the oil and natural gas company’s stock valued at $18,775,000 after purchasing an additional 956,390 shares during the last quarter. Finally, Greystone Managed Investments Inc. increased its position in shares of Enerplus by 36.8% during the 3rd quarter. Greystone Managed Investments Inc. now owns 3,335,883 shares of the oil and natural gas company’s stock valued at $32,834,000 after purchasing an additional 896,918 shares during the last quarter. 49.95% of the stock is owned by hedge funds and other institutional investors.
Enerplus (NYSE ERF) traded up $0.13 during midday trading on Thursday, reaching $9.18. The company had a trading volume of 438,665 shares, compared to its average volume of 895,231. The stock has a market cap of $2,222.74, a price-to-earnings ratio of 14.12 and a beta of 1.37. Enerplus has a twelve month low of $6.52 and a twelve month high of $10.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.04 and a quick ratio of 2.04.
The firm also recently announced a monthly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.0079 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Wednesday, November 29th. Enerplus’s dividend payout ratio is presently 2.77%.
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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