In a report released on January 12, Gregory Pardy from RBC Capital maintained a Buy rating on Enerplus (ERF – Research Report), with a price target of $21.00. The company’s shares closed last Friday at $14.62.
Pardy covers the Energy sector, focusing on stocks such as Cenovus Energy, MEG Energy, and Baytex Energy. According to TipRanks, Pardy has an average return of 21.7% and a 59.51% success rate on recommended stocks.
Enerplus has an analyst consensus of Strong Buy, with a price target consensus of $20.62.
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Based on Enerplus’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $461.84 million and a net profit of $127.66 million. In comparison, last year the company earned a revenue of $663.53 million and had a net profit of $305.21 million
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ERF in relation to earlier this year.
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Enerplus (ERF) Company Description:
Enerplus Corp. engages in the exploration and production of crude oil and natural gas. It conducts operations in Willston Basin, Marcellus Shale, and Canadian Waterfloods. The company was founded in 1986 and is headquartered in Calgary, Canada.
