Capital One Financial Analysts Increase Earnings Estimates for Enerplus Co. (NYSE:ERF)

Enerplus Co. (NYSE:ERFGet Rating) (TSE:ERF) – Capital One Financial increased their Q2 2022 earnings per share (EPS) estimates for Enerplus in a research report issued to clients and investors on Wednesday, May 18th. Capital One Financial analyst B. Velie now expects that the oil and natural gas company will earn $1.02 per share for the quarter, up from their previous forecast of $0.76. Capital One Financial also issued estimates for Enerplus’ Q3 2022 earnings at $1.07 EPS, Q4 2022 earnings at $1.30 EPS, FY2022 earnings at $3.97 EPS and FY2023 earnings at $4.81 EPS.

Several other research firms have also recently issued reports on ERF. TheStreet upgraded Enerplus from a “c” rating to a “b-” rating in a research report on Wednesday, March 23rd. Stifel Nicolaus boosted their target price on Enerplus from C$26.50 to C$29.00 in a research report on Monday, May 9th. TD Securities boosted their target price on Enerplus from $17.50 to $18.00 and gave the stock a “buy” rating in a research report on Friday, May 6th. National Bank Financial boosted their target price on Enerplus from C$19.00 to C$20.00 in a research report on Friday, February 4th. Finally, StockNews.com lowered Enerplus from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 3rd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $19.89.

Shares of ERF stock opened at $12.66 on Monday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.83. The stock’s 50-day moving average price is $12.78 and its 200 day moving average price is $11.70. Enerplus has a 52-week low of $4.78 and a 52-week high of $14.59. The stock has a market capitalization of $3.06 billion, a PE ratio of 15.44 and a beta of 2.56.

Enerplus (NYSE:ERFGet Rating) (TSE:ERF) last issued its quarterly earnings results on Thursday, May 5th. The oil and natural gas company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. The firm had revenue of $513.15 million for the quarter. Enerplus had a return on equity of 69.73% and a net margin of 14.62%.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Friday, May 27th will be issued a $0.043 dividend. The ex-dividend date is Thursday, May 26th. This represents a $0.17 dividend on an annualized basis and a yield of 1.36%. This is a boost from Enerplus’s previous quarterly dividend of $0.03. Enerplus’s dividend payout ratio (DPR) is currently 15.85%.

A number of hedge funds and other institutional investors have recently modified their holdings of ERF. First Trust Advisors LP increased its stake in shares of Enerplus by 24.4% in the first quarter. First Trust Advisors LP now owns 354,811 shares of the oil and natural gas company’s stock valued at $2,984,000 after purchasing an additional 69,660 shares during the period. BlackRock Inc. increased its stake in shares of Enerplus by 18.6% during the third quarter. BlackRock Inc. now owns 194,316 shares of the oil and natural gas company’s stock valued at $1,555,000 after acquiring an additional 30,471 shares during the period. Citigroup Inc. grew its position in Enerplus by 17.5% in the third quarter. Citigroup Inc. now owns 8,558 shares of the oil and natural gas company’s stock worth $68,000 after buying an additional 1,277 shares during the last quarter. US Bancorp DE grew its position in Enerplus by 6.2% in the third quarter. US Bancorp DE now owns 50,360 shares of the oil and natural gas company’s stock worth $403,000 after buying an additional 2,951 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Enerplus by 27.4% in the third quarter. American Century Companies Inc. now owns 372,894 shares of the oil and natural gas company’s stock worth $2,985,000 after buying an additional 80,205 shares during the last quarter. 52.86% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Enerplus (NYSE:ERF)

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