Enerplus Corporation (NYSE:ERF) Research Coverage Started at CIBC

Analysts at CIBC began coverage on shares of Enerplus Corporation (NYSE:ERF) (TSE:ERF) in a research report issued to clients and investors on Wednesday, October 18th, MarketBeat.com reports. The firm set a “sector outperform” rating on the oil and natural gas company’s stock.

Other analysts have also issued research reports about the stock. Scotiabank reiterated a “buy” rating and set a $16.00 price objective on shares of Enerplus Corporation in a research note on Tuesday, October 10th. ValuEngine upgraded shares of Enerplus Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research lowered shares of Enerplus Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub upgraded shares of Enerplus Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Capital One Financial Corporation began coverage on shares of Enerplus Corporation in a research note on Tuesday, July 11th. They issued an “overweight” rating and a $13.00 price target for the company. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $14.80.

Enerplus Corporation (NYSE ERF) opened at 8.43 on Wednesday. Enerplus Corporation has a 12-month low of $6.26 and a 12-month high of $10.33. The company has a market cap of $2.04 billion, a P/E ratio of 2.69 and a beta of 1.39. The firm’s 50 day moving average is $9.25 and its 200 day moving average is $8.49.

Enerplus Corporation (NYSE:ERF) (TSE:ERF) last announced its quarterly earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.16. The firm had revenue of $191.57 million for the quarter, compared to analysts’ expectations of $257.94 million. Enerplus Corporation had a net margin of 103.80% and a return on equity of 7.91%. During the same period in the previous year, the company posted ($0.77) earnings per share. Equities research analysts anticipate that Enerplus Corporation will post $0.92 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This story was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at https://www.dispatchtribunal.com/2017/10/27/enerplus-corporation-erf-receives-new-coverage-from-analysts-at-cibc.html.

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in shares of Enerplus Corporation by 2.1% during the second quarter. Royal Bank of Canada now owns 10,110,081 shares of the oil and natural gas company’s stock valued at $82,094,000 after acquiring an additional 203,904 shares during the period. Guardian Capital LP acquired a new position in shares of Enerplus Corporation during the second quarter valued at $41,357,000. Vanguard Group Inc. boosted its holdings in shares of Enerplus Corporation by 6.6% during the second quarter. Vanguard Group Inc. now owns 4,950,453 shares of the oil and natural gas company’s stock valued at $40,198,000 after acquiring an additional 307,273 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of Enerplus Corporation by 22.1% during the second quarter. UBS Asset Management Americas Inc. now owns 3,279,072 shares of the oil and natural gas company’s stock valued at $26,562,000 after acquiring an additional 592,669 shares during the period. Finally, Denver Investment Advisors LLC boosted its holdings in shares of Enerplus Corporation by 114.7% during the second quarter. Denver Investment Advisors LLC now owns 2,936,157 shares of the oil and natural gas company’s stock valued at $23,842,000 after acquiring an additional 1,568,465 shares during the period. 50.95% of the stock is owned by hedge funds and other institutional investors.

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).

Analyst Recommendations for Enerplus Corporation (NYSE:ERF)

Receive News & Ratings for Enerplus Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enerplus Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply