National Bank Financial Lowers Enerplus (TSE:ERF) Price Target to C$14.00

Enerplus (TSE:ERF) (NYSE:ERF) had its price target dropped by equities researchers at National Bank Financial from C$18.00 to C$14.00 in a report released on Tuesday, June 25th, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the oil and natural gas company’s stock. National Bank Financial’s target price indicates a potential upside of 64.32% from the stock’s previous close.

ERF has been the subject of a number of other reports. Raymond James reiterated a “neutral” rating and issued a $35.00 price target on shares of Stantec in a research note on Monday, May 13th. Canaccord Genuity upgraded Nuvista Energy to a “buy” rating in a research note on Tuesday, April 9th. Finally, TD Securities lowered their target price on Ritchie Bros. Auctioneers from $30.00 to $28.00 and set a “reduce” rating for the company in a research report on Monday, May 13th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of C$16.75.

Shares of Enerplus stock traded down C$0.34 on Tuesday, hitting C$8.52. The stock had a trading volume of 690,750 shares, compared to its average volume of 925,685. Enerplus has a twelve month low of C$8.48 and a twelve month high of C$18.04. The company has a 50 day moving average price of C$9.61. The company has a current ratio of 1.37, a quick ratio of 1.20 and a debt-to-equity ratio of 38.16. The firm has a market capitalization of $2.09 billion and a PE ratio of 5.68.

Enerplus (TSE:ERF) (NYSE:ERF) last issued its quarterly earnings results on Friday, May 10th. The oil and natural gas company reported C$0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.26 by C$0.04. The company had revenue of C$287.45 million for the quarter, compared to analyst estimates of C$285.95 million. On average, equities research analysts expect that Enerplus will post 1.41 EPS for the current year.

Enerplus Company Profile

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, Montana, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.

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