Enerplus (ERF) Upgraded by Zacks Investment Research to “Hold”

Enerplus (NYSE:ERF) (TSE:ERF) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Enerplus Corporation, formerly known as Enerplus Resources, is an independent oil and gas production company with resources across Western Canada and the United States. The Company’s resource plays include shallow gas/coal bed methane, tight gas, crude oil waterfloods, Bakken/Tight oil and oil sands located in British Columbia, Alberta, Saskatchewan and Manitoba. Enerplus Corporation is based in Alberta, Canada. “

ERF has been the topic of a number of other research reports. Raymond James reaffirmed a “buy” rating on shares of Enerplus in a research report on Thursday, December 13th. ValuEngine downgraded shares of Enerplus from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 6th. TheStreet raised shares of Enerplus from a “d+” rating to a “c+” rating in a research report on Monday, February 25th. Capital One Financial downgraded shares of Enerplus from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. Finally, SunTrust Banks set a $15.00 price objective on shares of Enerplus and gave the stock a “buy” rating in a research report on Tuesday, November 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $18.17.

Shares of Enerplus stock traded up $0.13 on Tuesday, reaching $8.36. The stock had a trading volume of 597,646 shares, compared to its average volume of 647,767. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.34. Enerplus has a 1 year low of $6.84 and a 1 year high of $13.87. The company has a market cap of $1.98 billion, a P/E ratio of 7.67 and a beta of 1.67.

Enerplus (NYSE:ERF) (TSE:ERF) last issued its quarterly earnings data on Friday, February 22nd. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Enerplus had a net margin of 13.12% and a return on equity of 12.80%. The firm had revenue of $247.23 million for the quarter, compared to the consensus estimate of $248.00 million. During the same quarter in the previous year, the firm earned $0.06 EPS. As a group, equities research analysts forecast that Enerplus will post 0.98 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Enerplus by 6.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,542,599 shares of the oil and natural gas company’s stock worth $179,448,000 after purchasing an additional 868,875 shares in the last quarter. Vanguard Group Inc. boosted its stake in Enerplus by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,013,637 shares of the oil and natural gas company’s stock worth $74,208,000 after purchasing an additional 276,520 shares in the last quarter. Vanguard Group Inc boosted its stake in Enerplus by 4.8% in the 3rd quarter. Vanguard Group Inc now owns 6,013,637 shares of the oil and natural gas company’s stock worth $74,208,000 after purchasing an additional 276,520 shares in the last quarter. TD Asset Management Inc. boosted its stake in Enerplus by 23.7% in the 4th quarter. TD Asset Management Inc. now owns 4,701,332 shares of the oil and natural gas company’s stock worth $36,556,000 after purchasing an additional 902,108 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in Enerplus by 14.6% in the 4th quarter. 1832 Asset Management L.P. now owns 4,080,590 shares of the oil and natural gas company’s stock worth $31,755,000 after purchasing an additional 518,790 shares in the last quarter. Institutional investors own 51.11% of the company’s stock.

About Enerplus

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. Its crude oil properties are located in the Fort Berthold region of North Dakota and the Elm Coulee field in Richland County, Montana; and crude oil Waterfloods in Alberta and Saskatchewan, Canada.

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