Enerplus Corporation (NYSE:ERF) (TSE:ERF) has received a consensus recommendation of “Buy” from the nine brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $15.00.
ERF has been the topic of several research reports. ValuEngine upgraded shares of Enerplus from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Scotiabank reiterated a “buy” rating and set a $16.00 price objective on shares of Enerplus in a research note on Tuesday, October 10th. Zacks Investment Research downgraded shares of Enerplus from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. CIBC started coverage on shares of Enerplus in a research note on Wednesday, October 18th. They set a “sector outperform” rating on the stock. Finally, Canaccord Genuity reiterated a “buy” rating and set a $16.00 price objective on shares of Enerplus in a research note on Thursday, November 9th.
Enerplus (ERF) opened at $8.25 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.04 and a quick ratio of 2.04. Enerplus has a one year low of $6.52 and a one year high of $10.20. The company has a market cap of $1,997.56, a PE ratio of 12.69 and a beta of 1.33.
A number of institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in shares of Enerplus by 2.1% in the second quarter. Royal Bank of Canada now owns 10,110,081 shares of the oil and natural gas company’s stock worth $82,094,000 after acquiring an additional 203,904 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of Enerplus by 1.4% in the third quarter. TD Asset Management Inc. now owns 5,134,946 shares of the oil and natural gas company’s stock worth $50,542,000 after acquiring an additional 72,928 shares during the last quarter. Guardian Capital LP bought a new position in shares of Enerplus in the second quarter worth about $41,357,000. Vanguard Group Inc. lifted its holdings in shares of Enerplus by 6.6% in the second quarter. Vanguard Group Inc. now owns 4,950,453 shares of the oil and natural gas company’s stock worth $40,198,000 after acquiring an additional 307,273 shares during the last quarter. Finally, Greystone Managed Investments Inc. lifted its holdings in shares of Enerplus by 36.8% in the third quarter. Greystone Managed Investments Inc. now owns 3,335,883 shares of the oil and natural gas company’s stock worth $32,834,000 after acquiring an additional 896,918 shares during the last quarter. Hedge funds and other institutional investors own 49.73% of the company’s stock.
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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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