CSFB Increases Enerplus (ERF) Price Target to C$20.00

Enerplus (TSE:ERF) (NYSE:ERF) had its target price raised by investment analysts at CSFB from C$17.00 to C$20.00 in a note issued to investors on Friday. CSFB’s target price would suggest a potential upside of 33.96% from the company’s previous close.

A number of other equities analysts have also weighed in on ERF. BMO Capital Markets reiterated an “outperform” rating and issued a C$16.00 price target on shares of Enerplus in a research report on Thursday, December 14th. TD Securities increased their price target on Enerplus from C$15.00 to C$17.00 and gave the company a “buy” rating in a research report on Friday, December 15th. National Bank Financial increased their price target on Enerplus from C$15.00 to C$21.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. Barclays increased their price target on Enerplus from C$16.00 to C$17.00 in a research report on Wednesday, January 17th. Finally, Scotiabank increased their price target on Enerplus from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research report on Wednesday, January 17th. Seven equities research analysts have rated the stock with a buy rating, Enerplus has a consensus rating of “Buy” and an average target price of C$18.42.

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TSE:ERF opened at C$14.93 on Friday. Enerplus has a 1-year low of C$8.97 and a 1-year high of C$15.89.

Enerplus (TSE:ERF) (NYSE:ERF) last released its quarterly earnings results on Friday, February 23rd. The oil and natural gas company reported C$0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.11 by C$0.23. Enerplus had a return on equity of 3.85% and a net margin of 5.63%. The business had revenue of C$271.10 million during the quarter, compared to analyst estimates of C$246.00 million.

In other Enerplus news, insider Shaina Brianne Morihira sold 6,579 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of C$14.04, for a total transaction of C$92,369.16. Also, insider Daniel John Fitzgerald acquired 13,000 shares of the firm’s stock in a transaction on Thursday, March 8th. The shares were acquired at an average price of C$14.05 per share, with a total value of C$182,650.00.

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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. Its crude oil properties are located in the Fort Berthold region of North Dakota and the Elm Coulee field in Richland County, Montana; and crude oil Waterfloods in Alberta and Saskatchewan, Canada.

Analyst Recommendations for Enerplus (TSE:ERF)

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