StockNews.com Begins Coverage on Enerplus (NYSE:ERF)

Equities research analysts at StockNews.com assumed coverage on shares of Enerplus (NYSE:ERF) (TSE:ERF) in a report released on Wednesday. The brokerage set a “hold” rating on the oil and natural gas company’s stock.

ERF has been the subject of several other research reports. Royal Bank of Canada cut Enerplus from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $21.00 to $22.00 in a report on Monday, April 29th. CIBC lowered their price target on shares of Enerplus from $23.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th. National Bankshares reduced their target price on shares of Enerplus from $25.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. Finally, TD Securities reissued a “tender” rating and set a $18.85 price target (down from $21.00) on shares of Enerplus in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.69.

Enerplus Stock Performance

Shares of NYSE ERF opened at $19.86 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.80 and a quick ratio of 0.80. Enerplus has a 1 year low of $13.46 and a 1 year high of $20.97. The firm has a fifty day moving average price of $19.33 and a 200-day moving average price of $16.89. The stock has a market cap of $4.06 billion, a PE ratio of 9.46 and a beta of 1.97.

Enerplus (NYSE:ERF) (TSE:ERF) last announced its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. Enerplus had a net margin of 27.67% and a return on equity of 40.36%. The business had revenue of $437.10 million during the quarter. Equities analysts anticipate that Enerplus will post 1.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enerplus

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in shares of Enerplus by 15.1% during the fourth quarter. Wellington Management Group LLP now owns 8,475,459 shares of the oil and natural gas company’s stock worth $130,272,000 after purchasing an additional 1,109,040 shares in the last quarter. Ninepoint Partners LP purchased a new stake in shares of Enerplus during the third quarter valued at $88,150,000. Westwood Holdings Group Inc. raised its stake in Enerplus by 29.0% in the 4th quarter. Westwood Holdings Group Inc. now owns 4,182,271 shares of the oil and natural gas company’s stock worth $64,156,000 after acquiring an additional 940,419 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Enerplus by 94.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,255,178 shares of the oil and natural gas company’s stock worth $34,594,000 after acquiring an additional 1,097,412 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Enerplus by 61.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,881,849 shares of the oil and natural gas company’s stock worth $28,868,000 after buying an additional 718,606 shares during the period. Institutional investors own 58.42% of the company’s stock.

About Enerplus

Enerplus Corporation, together with its subsidiaries, explores and develops crude oil and natural gas in the United States. Its oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania. The company was founded in 1986 and is headquartered in Calgary, Canada.