Enerplus’ (ERF) Buy Rating Reaffirmed at Raymond James

Raymond James restated their buy rating on shares of Enerplus (NYSE:ERF) (TSE:ERF) in a research report sent to investors on Monday. The firm currently has a $25.50 target price on the oil and natural gas company’s stock.

A number of other equities research analysts also recently commented on the company. Zacks Investment Research upgraded Enerplus from a sell rating to a hold rating in a research report on Wednesday, November 28th. SunTrust Banks set a $15.00 price objective on Enerplus and gave the company a buy rating in a research report on Tuesday, November 27th. ValuEngine downgraded Enerplus from a hold rating to a sell rating in a research report on Wednesday, October 24th. Finally, TheStreet downgraded Enerplus from a c rating to a d+ rating in a research report on Thursday, August 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Enerplus currently has a consensus rating of Hold and an average price target of $17.63.

ERF opened at $9.66 on Monday. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 12.08 and a beta of 1.54. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.20 and a quick ratio of 1.20. Enerplus has a 1-year low of $8.25 and a 1-year high of $13.87.

Enerplus (NYSE:ERF) (TSE:ERF) last released its earnings results on Friday, November 9th. The oil and natural gas company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $244.50 million during the quarter, compared to analyst estimates of $264.36 million. Enerplus had a return on equity of 12.80% and a net margin of 13.12%. On average, analysts predict that Enerplus will post 0.61 EPS for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Friday, December 14th. Stockholders of record on Thursday, November 29th will be issued a $0.0076 dividend. The ex-dividend date is Wednesday, November 28th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.94%. Enerplus’s payout ratio is currently 11.25%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Enerplus by 4.8% in the third quarter. Vanguard Group Inc. now owns 6,013,637 shares of the oil and natural gas company’s stock valued at $74,208,000 after purchasing an additional 276,520 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in shares of Enerplus by 4.6% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,262,200 shares of the oil and natural gas company’s stock worth $36,082,000 after acquiring an additional 100,100 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Enerplus by 4.8% in the third quarter. Macquarie Group Ltd. now owns 616,000 shares of the oil and natural gas company’s stock worth $7,602,000 after acquiring an additional 28,200 shares during the last quarter. Worth Venture Partners LLC acquired a new position in shares of Enerplus in the third quarter worth $149,000. Finally, Luminus Management LLC acquired a new position in shares of Enerplus in the third quarter worth $2,471,000. Institutional investors own 53.81% of the company’s stock.

About Enerplus

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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