CIBC Raises Enerplus (TSE:ERF) Price Target to C$14.50

Enerplus (TSE:ERF) (NYSE:ERF) had its price objective hoisted by CIBC from C$14.00 to C$14.50 in a research report released on Monday morning, BayStreet.CA reports.

Several other equities research analysts have also recently issued reports on ERF. TD Securities raised their price objective on Enerplus from C$18.50 to C$19.50 and gave the stock a buy rating in a report on Monday, May 13th. National Bank Financial raised their price objective on Enerplus from C$14.00 to C$15.00 and gave the stock an outperform rating in a report on Friday, August 9th. Royal Bank of Canada decreased their price objective on Enerplus from C$15.00 to C$14.00 in a report on Thursday, July 18th. Raymond James raised their price objective on Enerplus from C$20.50 to C$21.50 and gave the stock a strong-buy rating in a report on Monday, May 13th. Finally, GMP Securities reduced their target price on Enerplus from C$18.00 to C$16.00 in a report on Friday, June 28th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of C$16.94.

ERF stock opened at C$8.20 on Monday. Enerplus has a 52-week low of C$7.32 and a 52-week high of C$16.79. The stock’s fifty day simple moving average is C$8.90 and its 200-day simple moving average is C$10.55. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 34.72. The stock has a market capitalization of $2.00 billion and a price-to-earnings ratio of 4.56.

The company also recently announced a jul 19 dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a $0.01 dividend. The ex-dividend date was Tuesday, July 30th. Enerplus’s payout ratio is currently 6.67%.

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. The company's oil and natural gas properties are located primarily in North Dakota, Montana, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.

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Analyst Recommendations for Enerplus (TSE:ERF)

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