Enerplus Corporation (ERF) Stock Rating Reaffirmed by Canaccord Genuity

Enerplus Corporation (NYSE:ERF) (TSE:ERF)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity in a research note issued to investors on Thursday. They presently have a $16.00 price target on the oil and natural gas company’s stock. Canaccord Genuity’s price target would indicate a potential upside of 62.60% from the stock’s current price.

A number of other research firms also recently issued reports on ERF. ValuEngine raised Enerplus Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Scotiabank reissued a “buy” rating and issued a $16.00 target price on shares of Enerplus Corporation in a research report on Tuesday, October 10th. Zacks Investment Research downgraded Enerplus Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. BidaskClub downgraded Enerplus Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Finally, CIBC began coverage on Enerplus Corporation in a research report on Wednesday, October 18th. They issued a “sector outperform” rating for the company. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $14.80.

Shares of Enerplus Corporation (NYSE ERF) opened at $9.84 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.45 and a quick ratio of 2.45. Enerplus Corporation has a 52-week low of $6.26 and a 52-week high of $10.33. The stock has a market capitalization of $2,384.97, a price-to-earnings ratio of 15.15 and a beta of 1.37.

Enerplus Corporation (NYSE:ERF) (TSE:ERF) last released its earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.16. Enerplus Corporation had a return on equity of 14.54% and a net margin of 121.44%. The business had revenue of $191.57 million during the quarter, compared to the consensus estimate of $257.94 million. During the same period last year, the business posted ($0.77) earnings per share. equities analysts predict that Enerplus Corporation will post 0.96 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Private Capital Management Inc. purchased a new position in shares of Enerplus Corporation in the second quarter valued at $122,000. ETRADE Capital Management LLC grew its position in shares of Enerplus Corporation by 5.8% in the second quarter. ETRADE Capital Management LLC now owns 15,052 shares of the oil and natural gas company’s stock valued at $122,000 after purchasing an additional 822 shares in the last quarter. Creative Planning grew its position in shares of Enerplus Corporation by 40.5% in the second quarter. Creative Planning now owns 17,605 shares of the oil and natural gas company’s stock valued at $143,000 after purchasing an additional 5,074 shares in the last quarter. Lbmc Investment Advisors LLC purchased a new position in shares of Enerplus Corporation in the third quarter valued at $148,000. Finally, Pacad Investment Ltd. grew its position in shares of Enerplus Corporation by 69.0% in the second quarter. Pacad Investment Ltd. now owns 20,108 shares of the oil and natural gas company’s stock valued at $163,000 after purchasing an additional 8,208 shares in the last quarter. Institutional investors own 51.25% of the company’s stock.

About Enerplus Corporation

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).

Analyst Recommendations for Enerplus Corporation (NYSE:ERF)

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