Enerplus Corp (ERF) Receives C$14.15 Consensus PT from Brokerages

Shares of Enerplus Corp (TSE:ERF) (NYSE:ERF) have earned an average rating of “Buy” from the fourteen ratings firms that are covering the company. Ten investment analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have covered the stock in the last year is C$14.15.

ERF has been the topic of a number of research analyst reports. Scotiabank increased their price target on Enerplus Corp from C$14.00 to C$16.50 and gave the stock an “outperform” rating in a report on Monday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a C$14.00 target price on shares of Enerplus Corp in a research report on Wednesday, February 1st. BMO Capital Markets raised Enerplus Corp from a “market perform” rating to an “outperform” rating in a research report on Friday, February 10th. TD Securities reaffirmed a “buy” rating and set a C$15.50 target price on shares of Enerplus Corp in a research report on Monday, February 27th. Finally, Raymond James Financial, Inc. upped their target price on Enerplus Corp from C$15.50 to C$16.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th.

Shares of Enerplus Corp (TSE:ERF) traded down 0.20% during midday trading on Tuesday, reaching $10.13. 793,083 shares of the company’s stock were exchanged. The stock has a market cap of $2.44 billion and a PE ratio of 5.89. Enerplus Corp has a 12 month low of $6.05 and a 12 month high of $13.55. The company’s 50 day moving average is $10.80 and its 200-day moving average is $11.06.

The firm also recently announced a may 17 dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 28th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, April 26th.

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In other Enerplus Corp news, insider Edward Mclaughlin bought 3,240 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was purchased at an average cost of C$8.24 per share, with a total value of C$26,697.60. Over the last ninety days, insiders have bought 7,240 shares of company stock valued at $69,628.

About Enerplus Corp

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).

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