Enerplus (TSE:ERF) (NYSE:ERF) had its price objective upped by equities researchers at CIBC from C$19.00 to C$20.00 in a research note issued on Friday. CIBC’s price objective would indicate a potential upside of 20.12% from the company’s current price.
ERF has been the subject of a number of other reports. Barclays lifted their price target on Enerplus from C$18.00 to C$20.00 in a report on Monday, February 26th. Royal Bank of Canada lifted their price target on Enerplus from C$13.00 to C$16.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. TD Securities decreased their price target on Enerplus from C$18.50 to C$18.00 and set a “buy” rating for the company in a report on Friday, May 4th. National Bank Financial reduced their target price on Enerplus from C$19.50 to C$18.50 and set an “outperform” rating for the company in a report on Friday, May 4th. Finally, GMP Securities boosted their target price on Enerplus from C$17.00 to C$18.00 in a report on Thursday, March 1st. Seven analysts have rated the stock with a buy rating, Enerplus currently has an average rating of “Buy” and a consensus price target of C$18.29.
Enerplus traded up C$0.27, hitting C$16.65, on Friday, according to Marketbeat Ratings. 842,763 shares of the company were exchanged, compared to its average volume of 1,180,513. Enerplus has a twelve month low of C$9.75 and a twelve month high of C$16.66.
Enerplus (TSE:ERF) (NYSE:ERF) last announced its quarterly earnings results on Friday, February 23rd. The oil and natural gas company reported C$0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.11 by C$0.23. The company had revenue of C$271.10 million during the quarter, compared to the consensus estimate of C$246.00 million. Enerplus had a return on equity of 3.85% and a net margin of 5.63%.
In related news, insider David Mccoy sold 8,187 shares of the business’s stock in a transaction dated Sunday, March 4th. The stock was sold at an average price of C$14.04, for a total value of C$114,945.48. Also, insider Shaina Brianne Morihira sold 6,579 shares of the business’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of C$14.04, for a total value of C$92,369.16. Insiders sold a total of 39,766 shares of company stock worth $608,315 in the last 90 days.
Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. Its crude oil properties are located in the Fort Berthold region of North Dakota and the Elm Coulee field in Richland County, Montana; and crude oil Waterfloods in Alberta and Saskatchewan, Canada.
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