Royal Bank of Canada Lowers Enerplus (TSE:ERF) Price Target to C$14.00

Enerplus (TSE:ERF) (NYSE:ERF) had its price target lowered by Royal Bank of Canada from C$15.00 to C$14.00 in a report issued on Thursday, BayStreet.CA reports.

Other research analysts have also issued reports about the stock. Canaccord Genuity upgraded shares of Nuvista Energy to a buy rating in a research note on Tuesday, April 9th. National Bank Financial decreased their price target on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research note on Tuesday, June 25th. Raymond James restated a neutral rating and set a $35.00 price objective on shares of Stantec in a research note on Monday, May 13th. GMP Securities restated a buy rating and set a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. Finally, TD Securities reduced their price objective on shares of Ritchie Bros. Auctioneers from $30.00 to $28.00 and set a reduce rating for the company in a research note on Monday, May 13th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average target price of C$16.75.

Shares of Enerplus stock opened at C$8.65 on Thursday. The company has a debt-to-equity ratio of 38.16, a quick ratio of 1.20 and a current ratio of 1.37. The stock has a 50-day simple moving average of C$9.58. The company has a market cap of $2.04 billion and a price-to-earnings ratio of 5.77. Enerplus has a 1 year low of C$8.35 and a 1 year high of C$18.04.

Enerplus (TSE:ERF) (NYSE:ERF) last issued its quarterly earnings results on Friday, May 10th. The oil and natural gas company reported C$0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.26 by C$0.04. The business had revenue of C$287.45 million during the quarter, compared to the consensus estimate of C$285.95 million. Equities analysts anticipate that Enerplus will post 1.41 EPS for the current fiscal year.

The company also recently disclosed a jul 19 dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, July 30th. Enerplus’s dividend payout ratio is currently 8.01%.

Enerplus Company Profile

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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