Q2 2024 EPS Estimates for Enerplus Co. Decreased by Capital One Financial (TSE:ERF)

Enerplus Co. (TSE:ERFFree Report) (NYSE:ERF) – Investment analysts at Capital One Financial cut their Q2 2024 earnings per share estimates for Enerplus in a research report issued on Wednesday, May 15th. Capital One Financial analyst B. Velie now expects that the oil and natural gas company will post earnings of $0.60 per share for the quarter, down from their previous estimate of $0.68. The consensus estimate for Enerplus’ current full-year earnings is $2.71 per share. Capital One Financial also issued estimates for Enerplus’ FY2024 earnings at $2.43 EPS.

Enerplus (TSE:ERFGet Free Report) (NYSE:ERF) last released its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported C$0.74 earnings per share for the quarter, topping the consensus estimate of C$0.71 by C$0.03. The company had revenue of C$595.12 million for the quarter. Enerplus had a return on equity of 32.27% and a net margin of 26.04%.

Several other analysts have also recently weighed in on ERF. Scotiabank boosted their price target on Enerplus from C$24.00 to C$25.50 and gave the stock a “sector perform” rating in a report on Thursday, February 22nd. Desjardins upped their target price on Enerplus from C$19.25 to C$20.00 and gave the company a “tender” rating in a report on Tuesday, April 23rd. National Bankshares reduced their target price on Enerplus from C$21.00 to C$18.85 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. Finally, Stifel Nicolaus upped their target price on Enerplus from C$27.25 to C$32.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$24.36.

Check Out Our Latest Report on ERF

Enerplus Stock Performance

TSE:ERF opened at C$27.59 on Monday. The stock has a market cap of C$5.64 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 0.25 and a beta of 2.64. The company has a current ratio of 0.70, a quick ratio of 0.61 and a debt-to-equity ratio of 15.94. The stock’s 50-day moving average is C$26.91 and its 200-day moving average is C$23.15. Enerplus has a 1-year low of C$18.23 and a 1-year high of C$28.84.

Enerplus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 22nd will be issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.94%. This is a boost from Enerplus’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, May 21st. Enerplus’s dividend payout ratio is presently 14.23%.

Insiders Place Their Bets

In other Enerplus news, Senior Officer Ian Charles Dundas sold 104,537 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of C$24.13, for a total transaction of C$2,521,965.58. Company insiders own 1.32% of the company’s stock.

Enerplus Company Profile

(Get Free Report)

Enerplus Corporation, together with its subsidiaries, explores and develops crude oil and natural gas in the United States. Its oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania. The company was founded in 1986 and is headquartered in Calgary, Canada.

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Earnings History and Estimates for Enerplus (TSE:ERF)

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