Enerplus (TSE:ERF) PT Lowered to C$14.00 at Royal Bank of Canada

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

ERF has been the subject of a number of other research reports. GMP Securities reaffirmed a buy rating and issued a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. Raymond James reaffirmed a neutral rating and issued a $35.00 price objective on shares of Stantec in a research note on Monday, May 13th. National Bank Financial cut their price objective 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. Canaccord Genuity raised shares of Nuvista Energy to a buy rating in a research note on Tuesday, April 9th. Finally, TD Securities cut 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 equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of C$16.75.

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

Enerplus (TSE:ERF) (NYSE:ERF) last released its quarterly earnings results on Friday, May 10th. The oil and natural gas company reported C$0.30 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.26 by C$0.04. The company had revenue of C$287.45 million during the quarter, compared to analysts’ expectations of C$285.95 million. On average, sell-side analysts forecast that Enerplus will post 1.41 earnings per share for the current fiscal year.

The firm also recently disclosed a jul 19 dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. Enerplus’s dividend payout ratio (DPR) is 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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