Zacks Investment Research upgraded shares of Enerplus (NYSE:ERF) (TSE:ERF) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $7.25 target price on the oil and natural gas company’s stock.
According to Zacks, “Enerplus Corporation, formerly known as Enerplus Resources, is an independent oil and gas production company with resources across Western Canada and the United States. The Company’s resource plays include shallow gas/coal bed methane, tight gas, crude oil waterfloods, Bakken/Tight oil and oil sands located in British Columbia, Alberta, Saskatchewan and Manitoba. Enerplus Corporation is based in Alberta, Canada. “
ERF has been the subject of several other reports. CIBC set a $15.00 target price on Enerplus and gave the company a buy rating in a research note on Friday, August 9th. ValuEngine raised Enerplus from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Desjardins reaffirmed a buy rating on shares of Enerplus in a research report on Monday, August 12th. Royal Bank of Canada reaffirmed a buy rating on shares of Enerplus in a research report on Friday, August 9th. Finally, Capital One Financial raised Enerplus from an equal weight rating to an overweight rating and set a $12.00 target price on the stock in a research report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $14.96.
Shares of ERF opened at $6.46 on Wednesday. The business’s 50 day moving average is $7.08 and its two-hundred day moving average is $7.55. Enerplus has a 52-week low of $5.50 and a 52-week high of $12.28. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 5.93 and a beta of 1.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.28.
Enerplus (NYSE:ERF) (TSE:ERF) last released its quarterly earnings results on Friday, August 9th. The oil and natural gas company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.09. The company had revenue of $240.33 million during the quarter, compared to analysts’ expectations of $232.00 million. Enerplus had a return on equity of 18.02% and a net margin of 35.14%. During the same quarter in the prior year, the business posted $0.05 earnings per share. On average, equities analysts expect that Enerplus will post 0.83 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.008 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.10 dividend on an annualized basis and a yield of 1.49%. Enerplus’s dividend payout ratio is 8.26%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ERF. Lindbrook Capital LLC increased its position in Enerplus by 78.5% during the second quarter. Lindbrook Capital LLC now owns 3,876 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 1,704 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in Enerplus in the second quarter worth $86,000. Trexquant Investment LP purchased a new stake in Enerplus in the second quarter worth about $86,000. Atria Investments LLC bought a new position in shares of Enerplus in the second quarter worth approximately $93,000. Finally, Jane Street Group LLC purchased a new stake in shares of Enerplus in the second quarter worth $102,000. 59.47% of the stock is owned by institutional investors.
Enerplus Company Profile
Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company's oil and natural gas properties are located primarily in North Dakota, Montana, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.
See Also: P/E Growth (PEG)
Get a free copy of the Zacks research report on Enerplus (ERF)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Enerplus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enerplus and related companies with MarketBeat.com's FREE daily email newsletter.