Enerplus Co. Expected to Post Q1 2024 Earnings of $0.48 Per Share (TSE:ERF)

Enerplus Co. (TSE:ERF) (NYSE:ERF) – Stock analysts at Capital One Financial reduced their Q1 2024 earnings per share estimates for Enerplus in a report issued on Friday, April 19th. Capital One Financial analyst B. Velie now expects that the oil and natural gas company will earn $0.48 per share for the quarter, down from their previous estimate of $0.50. The consensus estimate for Enerplus’ current full-year earnings is $3.00 per share.

Enerplus (TSE:ERF) (NYSE:ERF) last announced its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported C$0.74 earnings per share for the quarter, beating the consensus estimate of C$0.71 by C$0.03. Enerplus had a return on equity of 39.59% and a net margin of 29.85%. The business had revenue of C$595.12 million during the quarter.

Several other equities analysts have also weighed in on ERF. Stifel Nicolaus reduced their price objective on Enerplus from C$27.75 to C$27.25 and set a “buy” rating for the company in a report on Tuesday, February 27th. Scotiabank raised their price target on Enerplus from C$24.00 to C$25.50 and gave the stock a “sector perform” rating in a report on Thursday, February 22nd. National Bankshares cut their price target on Enerplus from C$21.00 to C$18.85 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Desjardins raised their price target on Enerplus from C$17.50 to C$19.25 and gave the stock a “tender” rating in a report on Friday, March 22nd. Finally, ATB Capital cut their price target on Enerplus from C$27.00 to C$26.50 in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$23.67.

Enerplus Price Performance

Shares of TSE ERF opened at C$27.41 on Monday. The stock has a fifty day simple moving average of C$25.15 and a two-hundred day simple moving average of C$22.59. Enerplus has a 1-year low of C$18.23 and a 1-year high of C$28.84. The firm has a market cap of C$5.57 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.25 and a beta of 2.65. The company has a current ratio of 0.80, a quick ratio of 0.61 and a debt-to-equity ratio of 17.31.

Insider Buying and Selling

In related news, Senior Officer Ian Charles Dundas sold 104,537 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of C$24.13, for a total value of C$2,521,965.58. 0.29% of the stock is currently owned by company insiders.

Enerplus Dividend Announcement

The firm also recently disclosed a mar 24 dividend, which was paid on Monday, March 4th. Investors of record on Friday, March 15th were given a $0.065 dividend. The ex-dividend date was Friday, March 1st. Enerplus’s dividend payout ratio (DPR) is presently 12.32%.

Enerplus Company Profile

Enerplus Corporation, together with its subsidiaries, explores and develops crude oil and natural gas in the United States. Its oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania. The company was founded in 1986 and is headquartered in Calgary, Canada.