Enerplus (ERF) Given New C$20.00 Price Target at CIBC

Enerplus (TSE:ERF) (NYSE:ERF) had its target price hoisted by CIBC from C$19.00 to C$20.00 in a research note published on Friday morning.

Other research analysts also recently issued research reports about the stock. CSFB upped their price objective on shares of Enerplus from C$17.00 to C$20.00 in a report on Friday, April 13th. GMP Securities upped their price objective on shares of Enerplus from C$17.00 to C$18.00 in a report on Thursday, March 1st. Barclays upped their price objective on shares of Enerplus from C$18.00 to C$20.00 in a report on Monday, February 26th. Canaccord Genuity upped their price objective on shares of Enerplus from C$16.50 to C$17.00 in a report on Monday, February 26th. Finally, Desjardins upped their price objective on shares of Enerplus from C$16.00 to C$17.50 in a report on Monday, February 26th. Seven equities research analysts have rated the stock with a buy rating, The stock has an average rating of Buy and an average price target of C$18.29.

Get Enerplus alerts:

Enerplus opened at C$16.52 on Friday, according to Marketbeat.com. Enerplus has a 1-year low of C$9.75 and a 1-year high of C$16.66.

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

The company also recently announced a jun 18 dividend, which will be paid on Friday, June 15th. Stockholders of record on Wednesday, May 30th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, May 29th.

In other news, insider Shaina Brianne Morihira sold 6,579 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of C$14.04, for a total value of C$92,369.16. Also, insider David Mccoy sold 8,187 shares of the stock in a transaction dated Sunday, March 4th. The shares were sold at an average price of C$14.04, for a total transaction of C$114,945.48. In the last quarter, insiders sold 39,766 shares of company stock valued at $608,315.

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. 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)