Enerplus (ERF) Given New C$16.00 Price Target at Canaccord Genuity

Enerplus (TSE:ERF) (NYSE:ERF) had its price target dropped by equities researchers at Canaccord Genuity from C$21.00 to C$16.00 in a research report issued on Thursday. Canaccord Genuity’s target price points to a potential upside of 35.14% from the company’s current price.

A number of other equities research analysts have also recently weighed in on ERF. National Bank Financial cut their price objective on shares of Enerplus from C$24.00 to C$23.00 in a research note on Friday, October 5th. BMO Capital Markets lifted their price objective on shares of Enerplus from C$20.00 to C$22.00 in a research note on Tuesday, October 9th. Raymond James upgraded shares of Enerplus from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from C$24.50 to C$25.50 in a research note on Monday, November 12th. Finally, GMP Securities cut their price objective on shares of Enerplus from C$21.50 to C$20.00 in a research note on Thursday, December 13th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Enerplus currently has a consensus rating of “Buy” and an average price target of C$20.00.

ERF stock traded up C$0.09 during mid-day trading on Thursday, reaching C$11.84. The company had a trading volume of 709,817 shares, compared to its average volume of 1,192,479. Enerplus has a one year low of C$9.65 and a one year high of C$18.04. The company has a current ratio of 1.20, a quick ratio of 1.09 and a debt-to-equity ratio of 37.53.

Enerplus (TSE:ERF) (NYSE:ERF) last issued its quarterly earnings data on Friday, November 9th. The oil and natural gas company reported C$0.35 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.36 by C($0.01). The company had revenue of C$319.52 million for the quarter, compared to analyst estimates of C$345.51 million. Equities analysts anticipate that Enerplus will post 1.70000019318184 earnings per share for the current year.

About Enerplus

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. Its crude oil properties are located in the Fort Berthold region of North Dakota and the Elm Coulee field in Richland County, Montana; and crude oil Waterfloods in Alberta and Saskatchewan, Canada.

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