Enerplus (TSE:ERF) Cut to Hold at Scotiabank

Enerplus (TSE:ERF) (NYSE:ERF) was downgraded by investment analysts at Scotiabank from an “outperform” rating to a “hold” rating in a research report issued on Thursday, PriceTargets.com reports. They presently have a C$16.00 price objective on the oil and natural gas company’s stock, up from their prior price objective of C$15.00. Scotiabank’s target price suggests a potential upside of 6.74% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Tudor Pickering & Holt set a C$13.50 price objective on shares of Enerplus and gave the company a “buy” rating in a research note on Tuesday, November 16th. BMO Capital Markets raised their price target on shares of Enerplus from C$14.00 to C$15.00 and gave the company a “na” rating in a report on Friday, November 5th. National Bank Financial raised their price target on shares of Enerplus from C$17.00 to C$19.00 and gave the company an “outperform” rating in a report on Thursday, January 6th. National Bankshares raised their price target on shares of Enerplus from C$17.00 to C$19.00 in a report on Thursday, January 6th. Finally, CIBC raised their price target on shares of Enerplus from C$13.00 to C$16.00 and gave the company a “na” rating in a report on Friday, October 15th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Enerplus presently has a consensus rating of “Buy” and an average price target of C$15.23.

TSE:ERF opened at C$14.99 on Thursday. The firm has a market cap of C$3.82 billion and a P/E ratio of -26.63. The company has a debt-to-equity ratio of 165.66, a quick ratio of 0.44 and a current ratio of 0.45. Enerplus has a fifty-two week low of C$3.94 and a fifty-two week high of C$15.02. The firm has a 50-day simple moving average of C$13.03 and a two-hundred day simple moving average of C$10.28.

Enerplus (TSE:ERF) (NYSE:ERF) last released its quarterly earnings data on Thursday, November 4th. The oil and natural gas company reported C$0.41 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.48 by C($0.07). The business had revenue of C$452.27 million for the quarter. On average, equities research analysts predict that Enerplus will post 1.5499999 EPS for the current year.

In other Enerplus news, Senior Officer Ian Charles Dundas acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 26th. The shares were bought at an average price of C$12.26 per share, with a total value of C$61,282.00. Following the completion of the acquisition, the insider now owns 304,852 shares in the company, valued at approximately C$3,736,388.05.

About Enerplus

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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Analyst Recommendations for Enerplus (TSE:ERF)

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