Enerplus - ERF Stock Forecast, Price & News

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 Price Performance

TSE:ERF opened at C$17.32 on Thursday. Enerplus has a 52 week low of C$6.12 and a 52 week high of C$23.29. The firm has a market cap of C$4.03 billion and a price-to-earnings ratio of 13.64. The firm's 50-day simple moving average is C$17.98 and its 200 day simple moving average is C$16.77. The company has a debt-to-equity ratio of 81.69, a quick ratio of 0.56 and a current ratio of 0.58.

Enerplus (TSE:ERF - Get Rating) (NYSE:ERF) last released its quarterly earnings results on Thursday, August 4th. The oil and natural gas company reported C$0.89 EPS for the quarter, missing analysts' consensus estimates of C$0.96 by C($0.07). The company had revenue of C$801.57 million for the quarter. As a group, sell-side analysts predict that Enerplus will post 2.99 earnings per share for the current year.

Enerplus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.15%. This is a positive change from Enerplus's previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, August 30th. Enerplus's dividend payout ratio (DPR) is currently 10.92%.

Analysts Set New Price Targets

Several analysts have issued reports on ERF shares. Stifel Nicolaus upped their price target on shares of Enerplus from C$30.00 to C$32.00 in a research report on Monday. CIBC dropped their price target on shares of Enerplus from C$28.00 to C$25.00 in a research report on Wednesday, July 13th. Finally, Scotiabank raised shares of Enerplus from a "sector perform" rating to a "buy" rating and increased their price objective for the company from C$20.00 to C$25.00 in a research report on Wednesday, June 8th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of C$20.29.

Insider Buying and Selling

In other news, Senior Officer Ian Charles Dundas acquired 2,000 shares of Enerplus stock in a transaction on Thursday, June 23rd. The shares were purchased at an average cost of C$16.47 per share, for a total transaction of C$32,932.40. Following the completion of the purchase, the insider now directly owns 321,852 shares of the company's stock, valued at approximately C$5,299,679.40.