Enerplus (NYSE:ERF) Given New $18.00 Price Target at Royal Bank of Canada

Enerplus (NYSE:ERFGet Rating) (TSE:ERF) had its target price raised by analysts at Royal Bank of Canada from $17.00 to $18.00 in a research note issued on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the oil and natural gas company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 54.11% from the stock’s previous close.

A number of other brokerages also recently issued reports on ERF. TheStreet raised shares of Enerplus from a “c” rating to a “b-” rating in a research report on Wednesday, March 23rd. TD Securities upped their price objective on shares of Enerplus from $17.50 to $18.00 and gave the company a “buy” rating in a report on Friday. StockNews.com downgraded shares of Enerplus from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 3rd. National Bank Financial upped their price objective on shares of Enerplus from C$19.00 to C$20.00 in a report on Friday, February 4th. Finally, Stifel Nicolaus upped their price objective on shares of Enerplus from C$24.00 to C$26.50 in a report on Thursday, April 14th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $19.89.

ERF traded down $1.50 on Monday, reaching $11.68. 271,556 shares of the company traded hands, compared to its average volume of 2,718,121. Enerplus has a one year low of $4.78 and a one year high of $14.59. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.99. The company has a market cap of $2.83 billion, a P/E ratio of 14.26 and a beta of 2.56. The firm has a fifty day simple moving average of $12.98 and a two-hundred day simple moving average of $11.50.

Enerplus (NYSE:ERFGet Rating) (TSE:ERF) last posted its quarterly earnings results on Thursday, February 24th. The oil and natural gas company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.08). Enerplus had a net margin of 14.62% and a return on equity of 71.29%. The business had revenue of $258.83 million during the quarter. On average, equities analysts forecast that Enerplus will post 2.58 earnings per share for the current year.

A number of large investors have recently bought and sold shares of ERF. First Trust Advisors LP raised its position in Enerplus by 24.4% during the first quarter. First Trust Advisors LP now owns 354,811 shares of the oil and natural gas company’s stock worth $2,984,000 after acquiring an additional 69,660 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Enerplus by 12.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 27,590 shares of the oil and natural gas company’s stock worth $221,000 after acquiring an additional 3,000 shares during the period. Toronto Dominion Bank raised its position in Enerplus by 6.0% during the third quarter. Toronto Dominion Bank now owns 1,471,446 shares of the oil and natural gas company’s stock worth $11,780,000 after acquiring an additional 83,837 shares during the period. TD Asset Management Inc. raised its position in Enerplus by 30.3% during the third quarter. TD Asset Management Inc. now owns 1,759,520 shares of the oil and natural gas company’s stock worth $14,083,000 after acquiring an additional 409,087 shares during the period. Finally, qPULA Trading Management LP acquired a new position in Enerplus during the third quarter worth $134,000. Institutional investors own 52.86% of the company’s stock.

About Enerplus (Get Rating)

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, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.

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