Enerplus (NYSE:ERF) PT Raised to C$13.50

Enerplus (NYSE:ERF) (TSE:ERF) had its price target boosted by equities researchers at Scotiabank from C$10.00 to C$13.50 in a note issued to investors on Thursday, The Fly reports. The firm presently has an “outperform” rating on the oil and natural gas company’s stock.

Several other research firms have also recently issued reports on ERF. Raymond James increased their price objective on shares of Enerplus from C$11.00 to C$11.50 and gave the company an “outperform” rating in a report on Tuesday, August 31st. CIBC upped their price target on shares of Enerplus from C$10.00 to C$13.00 and gave the company an “outperform” rating in a research report on Wednesday, July 14th. Desjardins increased their target price on shares of Enerplus from C$10.00 to C$11.50 and gave the stock a “buy” rating in a research report on Tuesday, August 10th. National Bank Financial increased their price target on shares of Enerplus from C$13.50 to C$17.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 29th. Finally, Zacks Investment Research upgraded shares of Enerplus from a “sell” rating to a “hold” rating in a research note on Wednesday, October 6th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Enerplus has a consensus rating of “Buy” and a consensus target price of $11.38.

Shares of Enerplus stock traded up $0.41 during trading on Thursday, reaching $9.18. The company had a trading volume of 36,733 shares, compared to its average volume of 1,921,366. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -7.46 and a beta of 3.24. The firm’s fifty day moving average is $6.57 and its 200-day moving average is $6.32. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.47 and a current ratio of 0.47. Enerplus has a fifty-two week low of $1.70 and a fifty-two week high of $9.21.

Enerplus (NYSE:ERF) (TSE:ERF) last released its quarterly earnings data on Thursday, August 5th. The oil and natural gas company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). Enerplus had a positive return on equity of 26.29% and a negative net margin of 32.54%. The business had revenue of $332.65 million for the quarter. On average, research analysts anticipate that Enerplus will post 1.16 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC grew its holdings in shares of Enerplus by 87.1% during the second quarter. Quadrant Capital Group LLC now owns 5,323 shares of the oil and natural gas company’s stock worth $38,000 after purchasing an additional 2,478 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Enerplus in the first quarter worth $47,000. Bank of New York Mellon Corp purchased a new stake in Enerplus in the first quarter worth $50,000. Quantbot Technologies LP purchased a new stake in shares of Enerplus in the first quarter worth $67,000. Finally, IHT Wealth Management LLC purchased a new stake in shares of Enerplus in the first quarter worth $82,000. 52.35% of the stock is owned by institutional investors and hedge funds.

Enerplus Company Profile

Enerplus Corp. engages in the exploration and production of crude oil and natural gas. It conducts operations in Willston Basin, Marcellus Shale, and Canadian Waterfloods. The company was founded in 1986 and is headquartered in Calgary, Canada.

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