National Bank Financial Boosts Enerplus (ERF) Price Target to C$21.00
Enerplus (TSE:ERF) (NYSE:ERF) had its target price lifted by National Bank Financial from C$15.00 to C$21.00 in a research report released on Tuesday morning. The firm currently has an outperform rating on the oil and natural gas company’s stock.
Several other equities analysts have also commented on ERF. BMO Capital Markets reiterated an outperform rating and set a C$16.00 price objective on shares of Enerplus in a research report on Friday, November 10th. Raymond James Financial increased their price objective on Enerplus from C$15.00 to C$15.50 and gave the company an outperform rating in a research report on Friday, November 10th. TD Securities increased their price objective on Enerplus from C$15.00 to C$15.50 and gave the company a buy rating in a research report on Friday, November 10th. Finally, Barclays increased their price objective on Enerplus from C$15.00 to C$16.00 in a research report on Monday, November 13th. Seven analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and an average target price of C$16.44.
Shares of Enerplus (ERF) traded down C$0.04 during trading on Tuesday, hitting C$12.91. The stock had a trading volume of 2,102,974 shares, compared to its average volume of 966,362. The company has a market cap of $3,140.00, a price-to-earnings ratio of 3.13 and a beta of 1.01. Enerplus has a 12-month low of C$8.97 and a 12-month high of C$13.17.
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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