Enerplus Corp (TSE:ERF) (NYSE:ERF) – National Bank Financial increased their FY2018 earnings per share estimates for shares of Enerplus in a report issued on Wednesday. National Bank Financial analyst T. Wood now forecasts that the oil and natural gas company will post earnings of $1.23 per share for the year, up from their previous forecast of $1.21. National Bank Financial has a “Outperform” rating and a $15.00 price target on the stock.
A number of other equities analysts have also recently weighed in on the stock. TD Securities upped their price objective on shares of Enerplus from C$15.00 to C$17.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets reissued an “outperform” rating and issued a C$16.00 price objective on shares of Enerplus in a research report on Thursday. Raymond James Financial upped their price objective on shares of Enerplus from C$15.00 to C$15.50 and gave the company an “outperform” rating in a research report on Friday, November 10th. Finally, Barclays upped their price objective on shares of Enerplus from C$15.00 to C$16.00 in a research report on Monday, November 13th. Seven investment analysts have rated the stock with a buy rating, Enerplus presently has an average rating of “Buy” and a consensus target price of C$15.78.
Shares of Enerplus (ERF) traded down C$0.36 during midday trading on Friday, reaching C$10.80. The company had a trading volume of 1,698,391 shares, compared to its average volume of 1,125,126. Enerplus has a 52-week low of C$8.97 and a 52-week high of C$13.35.
In other news, Director Glen Dawson Roane sold 20,000 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of C$11.92, for a total transaction of C$238,400.00.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.04 annualized dividend and a dividend yield of 0.37%. Enerplus’s payout ratio is 2.91%.
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Enerplus Corporation is an oil and natural gas company. The Company’s oil and natural gas property interests are located in the United States, primarily in North Dakota, Montana, and Pennsylvania, as well as in western Canada in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s oil and natural gas property interests contains proved plus probable gross reserves of approximately 14.3 million barrels (MMbbls) of light and medium crude oil, 39.0 MMbbls of heavy crude oil, 123 MMbbls of tight oil, 18.1 MMbbls of natural gas liquids (NGLs), 126.3 billion cubic feet (Bcf) of conventional natural gas and 1,002.8 Bcf of shale gas, for a total of approximately 382.5 million barrels of oil equivalent (MMBOE).
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