Enerplus (NYSE:ERF) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Enerplus (NYSE:ERF) (TSE:ERF) in a research report issued on Wednesday. The brokerage set a “hold” rating on the oil and natural gas company’s stock.

ERF has been the subject of several other research reports. Royal Bank of Canada cut shares of Enerplus from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $21.00 to $22.00 in a report on Monday, April 29th. TD Securities reaffirmed a “tender” rating and set a $18.85 price target (down from $21.00) on shares of Enerplus in a research report on Thursday, February 22nd. CIBC dropped their price objective on Enerplus from $23.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. Finally, National Bankshares reduced their price objective on shares of Enerplus from $25.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.69.

Enerplus Stock Performance

ERF stock opened at $19.86 on Wednesday. Enerplus has a 1-year low of $13.46 and a 1-year high of $20.97. The business’s 50-day moving average price is $19.33 and its two-hundred day moving average price is $16.89. The firm has a market cap of $4.06 billion, a PE ratio of 9.46 and a beta of 1.97. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.09.

Enerplus (NYSE:ERF) (TSE:ERF) last announced its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $437.10 million for the quarter. Enerplus had a net margin of 27.67% and a return on equity of 40.36%. As a group, research analysts forecast that Enerplus will post 1.99 earnings per share for the current year.

Hedge Funds Weigh In On Enerplus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in shares of Enerplus by 15.1% in the 4th quarter. Wellington Management Group LLP now owns 8,475,459 shares of the oil and natural gas company’s stock valued at $130,272,000 after buying an additional 1,109,040 shares in the last quarter. Ninepoint Partners LP acquired a new position in Enerplus during the third quarter worth about $88,150,000. Westwood Holdings Group Inc. lifted its holdings in shares of Enerplus by 29.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 4,182,271 shares of the oil and natural gas company’s stock worth $64,156,000 after acquiring an additional 940,419 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Enerplus by 94.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,255,178 shares of the oil and natural gas company’s stock valued at $34,594,000 after purchasing an additional 1,097,412 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Enerplus by 61.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,881,849 shares of the oil and natural gas company’s stock valued at $28,868,000 after purchasing an additional 718,606 shares during the last quarter. 58.42% of the stock is owned by institutional investors and hedge funds.

About Enerplus

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.