Enerplus (ERF) Price Target Raised to C$18.50

Enerplus (TSE:ERF) (NYSE:ERF) had its price objective lifted by equities researchers at Scotiabank from C$17.50 to C$18.50 in a note issued to investors on Wednesday. The firm presently has an “outperform” rating on the oil and natural gas company’s stock. Scotiabank’s target price indicates a potential upside of 35.93% from the stock’s previous close.

A number of other brokerages also recently commented on ERF. TD Securities increased their price target on shares of Enerplus from C$17.50 to C$18.50 and gave the company a “buy” rating in a report on Wednesday. Barclays increased their price target on shares of Enerplus from C$16.00 to C$17.00 in a report on Wednesday. Raymond James Financial increased their price target on shares of Enerplus from C$15.00 to C$15.50 and gave the company an “outperform” rating in a report on Friday, November 10th. National Bank Financial increased their price target on shares of Enerplus from C$14.00 to C$15.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a C$16.00 price target on shares of Enerplus in a report on Friday, November 10th. Seven equities research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of C$17.22.

Shares of Enerplus (ERF) traded down C$0.09 during trading hours on Wednesday, hitting C$13.61. 1,743,278 shares of the company were exchanged, compared to its average volume of 1,016,428. Enerplus has a 1 year low of C$8.97 and a 1 year high of C$13.91. The company has a market cap of $3,340.00, a P/E ratio of 3.30 and a beta of 1.01.

Enerplus (TSE:ERF) (NYSE:ERF) last announced its quarterly earnings results on Thursday, November 9th. The oil and natural gas company reported C$0.07 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.08 by C($0.01). Enerplus had a net margin of 8.23% and a return on equity of 4.05%.

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Enerplus 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 (TSE:ERF)

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