Enerplus Co. (TSE:ERF) Expected to Earn Q3 2022 Earnings of $1.33 Per Share

Enerplus Co. (TSE:ERFGet Rating) (NYSE:ERF) – Capital One Financial boosted their Q3 2022 earnings per share estimates for Enerplus in a report released on Wednesday, August 31st. Capital One Financial analyst B. Velie now forecasts that the oil and natural gas company will post earnings per share of $1.33 for the quarter, up from their previous estimate of $1.05. The consensus estimate for Enerplus’ current full-year earnings is $3.14 per share. Capital One Financial also issued estimates for Enerplus’ FY2022 earnings at $4.65 EPS, Q1 2023 earnings at $1.59 EPS, Q2 2023 earnings at $1.67 EPS, Q3 2023 earnings at $1.79 EPS and Q4 2023 earnings at $1.97 EPS.

Enerplus (TSE:ERFGet Rating) (NYSE:ERF) last announced its earnings results on Thursday, August 4th. The oil and natural gas company reported C$0.89 EPS for the quarter, missing the consensus estimate of C$0.96 by C($0.07). The company had revenue of C$801.57 million during the quarter.

ERF has been the topic of several other research reports. CIBC cut their target price on Enerplus from C$28.00 to C$25.00 in a research report on Wednesday, July 13th. Scotiabank raised Enerplus from a “sector perform” rating to a “buy” rating and boosted their target price for the company from C$20.00 to C$25.00 in a research report on Wednesday, June 8th. Finally, Stifel Nicolaus boosted their target price on Enerplus from C$30.00 to C$32.00 in a research report on Monday, August 8th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$20.29.

Enerplus Trading Up 3.3 %

ERF opened at C$20.41 on Monday. Enerplus has a twelve month low of C$7.30 and a twelve month high of C$23.29. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 81.69. The company has a fifty day moving average of C$17.64 and a 200-day moving average of C$17.26. The stock has a market cap of C$4.74 billion and a PE ratio of 7.19.

Insider Activity

In other news, Senior Officer Ian Charles Dundas purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The shares were purchased at an average price of C$16.47 per share, with a total value of C$32,932.40. Following the completion of the acquisition, the insider now owns 321,852 shares in the company, valued at approximately C$5,299,679.40.

Enerplus Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This is a boost from Enerplus’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 0.98%. Enerplus’s dividend payout ratio is currently 4.88%.

About Enerplus

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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 (TSE:ERF)

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