Royal Bank of Canada Boosts Enerplus (NYSE:ERF) Price Target to $20.00

Enerplus (NYSE:ERFGet Rating) (TSE:ERF) had its price target lifted by Royal Bank of Canada from $19.00 to $20.00 in a research report report published on Monday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the oil and natural gas company’s stock.

Several other research analysts have also issued reports on the company. National Bankshares reduced their target price on Enerplus from $26.00 to $21.00 in a research report on Friday, September 30th. Scotiabank downgraded Enerplus from a sector outperform rating to a sector perform rating in a research note on Thursday, October 13th. assumed coverage on Enerplus in a research note on Wednesday, October 12th. They set a buy rating on the stock. TD Securities boosted their price target on Enerplus from $21.00 to $22.00 and gave the company a buy rating in a research note on Friday, November 4th. Finally, TheStreet upgraded Enerplus from a c+ rating to a b- rating in a research note on Tuesday, August 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from, Enerplus has an average rating of Moderate Buy and a consensus target price of $24.13.

Enerplus Trading Down 6.4 %

Shares of NYSE:ERF opened at $17.53 on Monday. The business’s 50-day moving average is $15.81 and its 200 day moving average is $14.53. Enerplus has a 1 year low of $8.59 and a 1 year high of $18.99. The firm has a market capitalization of $4.00 billion, a P/E ratio of 5.26 and a beta of 2.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.65 and a quick ratio of 0.65.

Enerplus Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be paid a $0.055 dividend. This is an increase from Enerplus’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.25%. Enerplus’s dividend payout ratio is presently 6.01%.

Institutional Trading of Enerplus

A number of hedge funds have recently modified their holdings of ERF. CWM LLC acquired a new position in Enerplus in the 3rd quarter worth about $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in Enerplus in the 1st quarter worth about $28,000. Quantbot Technologies LP acquired a new position in Enerplus in the 1st quarter worth about $37,000. Clearstead Advisors LLC acquired a new position in Enerplus in the 1st quarter worth about $38,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Enerplus in the 2nd quarter worth about $42,000. Hedge funds and other institutional investors own 52.61% of the company’s stock.

Enerplus Company Profile

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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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