Enerplus Corporation (ERF) Rating Increased to Buy at Zacks Investment Research

Enerplus Corporation (NYSE:ERF) (TSE:ERF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm currently has a $11.00 price objective on the oil and natural gas company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 18.92% from the stock’s previous close.

According to Zacks, “Enerplus Corporation, formerly known as Enerplus Resources, is an independent oil and gas production company with resources across Western Canada and the United States. The Company’s resource plays include shallow gas/coal bed methane, tight gas, crude oil waterfloods, Bakken/Tight oil and oil sands located in British Columbia, Alberta, Saskatchewan and Manitoba. Enerplus Corporation is based in Alberta, Canada. “

Several other analysts have also issued reports on the company. Scotiabank restated a “buy” rating and issued a $16.00 price objective on shares of Enerplus Corporation in a research note on Tuesday, October 10th. CIBC started coverage on Enerplus Corporation in a research note on Wednesday, October 18th. They issued a “sector outperform” rating on the stock. ValuEngine upgraded Enerplus Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Canaccord Genuity restated a “buy” rating and issued a $16.00 price objective on shares of Enerplus Corporation in a research note on Thursday, November 9th. Finally, BidaskClub lowered Enerplus Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $14.17.

Enerplus Corporation (ERF) opened at $9.25 on Monday. Enerplus Corporation has a 52-week low of $6.52 and a 52-week high of $10.33. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $2,346.23, a P/E ratio of 14.91 and a beta of 1.37.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE increased its stake in shares of Enerplus Corporation by 0.3% during the second quarter. US Bancorp DE now owns 38,170 shares of the oil and natural gas company’s stock worth $310,000 after purchasing an additional 100 shares during the period. ETRADE Capital Management LLC increased its stake in shares of Enerplus Corporation by 5.8% during the second quarter. ETRADE Capital Management LLC now owns 15,052 shares of the oil and natural gas company’s stock worth $122,000 after purchasing an additional 822 shares during the period. Boston Partners increased its stake in shares of Enerplus Corporation by 0.4% during the second quarter. Boston Partners now owns 406,435 shares of the oil and natural gas company’s stock worth $3,300,000 after purchasing an additional 1,727 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Enerplus Corporation by 15.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,982 shares of the oil and natural gas company’s stock worth $178,000 after purchasing an additional 2,890 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Enerplus Corporation by 16.2% during the first quarter. Public Employees Retirement System of Ohio now owns 23,426 shares of the oil and natural gas company’s stock worth $189,000 after purchasing an additional 3,268 shares during the period. Institutional investors own 51.22% of the company’s stock.

About Enerplus Corporation

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).

Analyst Recommendations for Enerplus Corporation (NYSE:ERF)

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