Scotiabank reissued their buy rating on shares of Enerplus Corporation (NYSE:ERF) (TSE:ERF) in a research report released on Tuesday morning. Scotiabank currently has a $16.00 target price on the oil and natural gas company’s stock.
A number of other analysts have also recently commented on ERF. BidaskClub upgraded shares of Enerplus Corporation from a sell rating to a hold rating in a report on Friday, June 30th. Zacks Investment Research cut shares of Enerplus Corporation from a buy rating to a hold rating in a report on Wednesday, July 5th. Capital One Financial Corporation initiated coverage on shares of Enerplus Corporation in a report on Tuesday, July 11th. They set an overweight rating and a $13.00 target price on the stock. Finally, ValuEngine upgraded shares of Enerplus Corporation from a sell rating to a hold rating in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. Enerplus Corporation currently has a consensus rating of Buy and a consensus price target of $14.80.
Enerplus Corporation (ERF) opened at 9.14 on Tuesday. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 2.92 and a beta of 1.39. Enerplus Corporation has a 1-year low of $6.26 and a 1-year high of $10.33. The firm has a 50 day moving average of $9.27 and a 200-day moving average of $8.43.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last announced its earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.16. Enerplus Corporation had a net margin of 103.80% and a return on equity of 7.91%. The firm had revenue of $191.57 million for the quarter, compared to analysts’ expectations of $257.94 million. During the same quarter in the previous year, the business posted ($0.77) EPS. On average, equities research analysts anticipate that Enerplus Corporation will post $0.94 earnings per share for the current fiscal year.
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The company also recently declared a monthly dividend, which will be paid on Friday, October 13th. Investors of record on Thursday, September 28th will be paid a $0.008 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, September 27th. Enerplus Corporation’s payout ratio is 3.48%.
Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can boosted its stake in Enerplus Corporation by 23.1% in the 2nd quarter. Bank of Montreal Can now owns 2,830,308 shares of the oil and natural gas company’s stock worth $22,983,000 after purchasing an additional 530,278 shares in the last quarter. Sentry Investments Corp. bought a new position in Enerplus Corporation in the 2nd quarter worth about $2,885,000. Systematic Financial Management LP bought a new position in Enerplus Corporation in the 2nd quarter worth about $1,683,000. Intact Investment Management Inc. boosted its stake in Enerplus Corporation by 1,293.4% in the 2nd quarter. Intact Investment Management Inc. now owns 1,248,450 shares of the oil and natural gas company’s stock worth $13,050,000 after purchasing an additional 1,158,850 shares in the last quarter. Finally, KAMES CAPITAL plc bought a new position in Enerplus Corporation in the 2nd quarter worth about $662,000. Institutional investors own 50.71% of the company’s stock.
Enerplus Corporation Company Profile
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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