In a report released today, Chris MacCulloch from Desjardins maintained a Hold rating on Enerplus (ERF – Research Report), with a price target of C$20.00. The company’s shares closed today at $20.28.
MacCulloch covers the Energy sector, focusing on stocks such as Enerplus, Imperial Oil, and Suncor Energy. According to TipRanks, MacCulloch has an average return of 33.9% and a 55.81% success rate on recommended stocks.
Currently, the analyst consensus on Enerplus is a Moderate Buy with an average price target of $17.77, implying a -12.38% downside from current levels. In a report released on April 11, Scotiabank also maintained a Hold rating on the stock with a C$27.00 price target.
Based on Enerplus’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $437.06 million and a net profit of $116.7 million. In comparison, last year the company earned a revenue of $548.67 million and had a net profit of $218.71 million
Based on the recent corporate insider activity of 25 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.
