Enerplus (NYSE:ERF) (TSE:ERF) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a report released on Friday, Zacks.com reports.
According to Zacks, "Enerplus Corporation, formerly known as Enerplus Resources, is an independent oil and gas production company with resources across Western Canada and the United States. The Company's resource plays include shallow gas/coal bed methane, tight gas, crude oil waterfloods, Bakken/Tight oil and oil sands located in British Columbia, Alberta, Saskatchewan and Manitoba. Enerplus Corporation is based in Alberta, Canada. "
A number of other research analysts have also commented on the company. Desjardins upped their price objective on Enerplus from C$10.00 to C$11.50 and gave the company a "buy" rating in a report on Tuesday, August 10th. CIBC upped their target price on Enerplus from C$10.00 to C$13.00 and gave the company an "outperform" rating in a research report on Wednesday, July 14th. Scotiabank upgraded Enerplus from a "sector perform" rating to a "sector outperform" rating and set a $10.00 target price for the company in a research report on Thursday, August 26th. Stifel Nicolaus upped their target price on Enerplus from C$13.75 to C$14.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Raymond James upped their target price on Enerplus from C$11.00 to C$11.50 and gave the company an "outperform" rating in a research report on Tuesday, August 31st. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $10.36.
Shares of ERF stock traded up $0.33 during trading on Friday, reaching $7.18. 2,487,855 shares of the company's stock were exchanged, compared to its average volume of 1,893,532. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $1.84 billion, a PE ratio of -5.84 and a beta of 3.24. Enerplus has a twelve month low of $1.70 and a twelve month high of $7.54. The firm's fifty day moving average price is $5.94 and its 200-day moving average price is $6.02.
Enerplus (NYSE:ERF) (TSE:ERF) last posted its earnings results on Thursday, August 5th. The oil and natural gas company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.07). Enerplus had a positive return on equity of 26.29% and a negative net margin of 32.54%. The business had revenue of $332.65 million for the quarter. As a group, analysts anticipate that Enerplus will post 1.16 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC World Markets Inc. boosted its holdings in Enerplus by 70.0% in the first quarter. CIBC World Markets Inc. now owns 604,281 shares of the oil and natural gas company's stock worth $3,027,000 after acquiring an additional 248,893 shares in the last quarter. Boston Partners bought a new position in Enerplus in the first quarter worth approximately $31,930,000. BlackRock Inc. bought a new position in Enerplus in the first quarter worth approximately $804,000. Arrowstreet Capital Limited Partnership boosted its holdings in Enerplus by 50.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,127,697 shares of the oil and natural gas company's stock worth $25,734,000 after acquiring an additional 1,714,600 shares in the last quarter. Finally, South Dakota Investment Council boosted its holdings in Enerplus by 12.1% in the first quarter. South Dakota Investment Council now owns 3,067,233 shares of the oil and natural gas company's stock worth $15,367,000 after acquiring an additional 331,634 shares in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.
Enerplus Company Profile
Enerplus Corp. engages in the exploration and production of crude oil and natural gas. It conducts operations in Willston Basin, Marcellus Shale, and Canadian Waterfloods. The company was founded in 1986 and is headquartered in Calgary, Canada.
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