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. As of December 31, 2021, it had proved plus probable gross reserves of approximately 8.2 million barrels (MMbbls) of light and medium crude oil; 20.7 MMbbls of heavy crude oil; 299.3 MMbbls of tight oil; 56.2 MMbbls of natural gas liquids; 19.7 billion cubic feet (Bcf) of conventional natural gas; and 1,367.9 Bcf of shale gas. Enerplus Corporation was founded in 1986 and is headquartered in Calgary, Canada.
Enerplus Trading Up 8.1 %
Shares of NYSE:ERF opened at $13.14 on Monday. Enerplus has a 1 year low of $4.78 and a 1 year high of $18.58. The stock has a market cap of $3.09 billion, a P/E ratio of 6.57 and a beta of 2.38. The firm has a 50-day moving average of $14.04 and a 200 day moving average of $13.11. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.41 and a quick ratio of 0.41.
Enerplus (NYSE:ERF - Get Rating) (TSE:ERF) last issued its quarterly earnings results on Thursday, May 5th. The oil and natural gas company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.03. The company had revenue of $513.15 million during the quarter. Enerplus had a net margin of 14.62% and a return on equity of 69.73%. As a group, sell-side analysts expect that Enerplus will post 2.69 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
ERF has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of Enerplus from C$29.00 to C$30.00 in a report on Thursday, June 30th. CIBC raised their target price on shares of Enerplus from C$23.00 to C$28.00 in a research report on Wednesday, June 15th. TheStreet cut shares of Enerplus from a "b-" rating to a "c+" rating in a research report on Friday, July 15th. National Bank Financial raised their target price on shares of Enerplus from $24.00 to $29.00 in a research report on Thursday, June 16th. Finally, Scotiabank raised shares of Enerplus from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, June 8th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Enerplus has a consensus rating of "Buy" and an average price target of $22.89.