Enerplus Co. (NYSE:ERF) Receives $4.50 Average Target Price from Analysts

Shares of Enerplus Co. (NYSE:ERF) (TSE:ERF) have been given an average rating of “Buy” by the eleven brokerages that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $4.50.

ERF has been the topic of several analyst reports. Royal Bank of Canada increased their price objective on shares of Enerplus from $4.00 to $5.00 and gave the company an “outperform” rating in a report on Monday, August 10th. ValuEngine upgraded shares of Enerplus from a “sell” rating to a “hold” rating in a report on Tuesday, August 11th. BMO Capital Markets cut their target price on shares of Enerplus from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Raymond James reiterated a “hold” rating and issued a $4.50 target price on shares of Enerplus in a report on Monday, August 10th. Finally, CIBC increased their target price on shares of Enerplus from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Monday, August 10th.

Hedge funds have recently modified their holdings of the company. FIL Ltd bought a new stake in shares of Enerplus during the second quarter worth $29,000. Vident Investment Advisory LLC bought a new stake in shares of Enerplus during the second quarter worth $31,000. JustInvest LLC bought a new stake in shares of Enerplus during the second quarter worth $34,000. Tower Research Capital LLC TRC increased its position in shares of Enerplus by 16,471.0% during the first quarter. Tower Research Capital LLC TRC now owns 16,571 shares of the oil and natural gas company’s stock worth $25,000 after acquiring an additional 16,471 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Enerplus during the second quarter worth $56,000. 54.90% of the stock is owned by institutional investors.

Shares of NYSE ERF opened at $1.94 on Thursday. The company’s 50 day simple moving average is $2.09 and its 200 day simple moving average is $2.46. Enerplus has a fifty-two week low of $1.15 and a fifty-two week high of $7.35. The firm has a market capitalization of $431.74 million, a P/E ratio of -0.60 and a beta of 3.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.55 and a quick ratio of 0.55.

Enerplus (NYSE:ERF) (TSE:ERF) last announced its quarterly earnings data on Friday, August 7th. The oil and natural gas company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.07). Enerplus had a negative net margin of 93.51% and a positive return on equity of 5.60%. The business had revenue of $88.06 million during the quarter, compared to analyst estimates of $106.00 million. Sell-side analysts expect that Enerplus will post -0.06 EPS for the current fiscal year.

Enerplus Company Profile

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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Analyst Recommendations for Enerplus (NYSE:ERF)

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