Enerplus Corporation (ERF) Earns Overweight Rating from Analysts at Capital One Financial Corporation

Capital One Financial Corporation initiated coverage on shares of Enerplus Corporation (NYSE:ERF) (TSE:ERF) in a note issued to investors on Tuesday, July 11th, Marketbeat.com reports. The firm set an “overweight” rating and a $13.00 price target on the oil and natural gas company’s stock. Capital One Financial Corporation’s price target indicates a potential upside of 41.46% from the company’s previous close. Capital One Financial Corporation also issued estimates for Enerplus Corporation’s Q2 2017 earnings at $0.08 EPS, Q3 2017 earnings at $0.11 EPS, Q4 2017 earnings at $0.12 EPS, FY2017 earnings at $0.54 EPS and FY2018 earnings at $0.56 EPS.

Several other analysts have also recently commented on ERF. BidaskClub upgraded Enerplus Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Canaccord Genuity restated a “buy” rating and issued a $16.00 price target on shares of Enerplus Corporation in a report on Monday, May 8th. Zacks Investment Research upgraded Enerplus Corporation from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a report on Tuesday, June 6th. Finally, TheStreet upgraded Enerplus Corporation from a “d” rating to a “c-” rating in a report on Friday, March 17th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $13.40.

Shares of Enerplus Corporation (NYSE ERF) traded up 8.89% during midday trading on Tuesday, hitting $9.19. 2,978,576 shares of the company were exchanged. The company has a 50-day moving average price of $8.48 and a 200-day moving average price of $8.30. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 4.29 and a beta of 1.40. Enerplus Corporation has a 52-week low of $5.61 and a 52-week high of $10.33.

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Several hedge funds have recently modified their holdings of ERF. Comerica Bank boosted its stake in shares of Enerplus Corporation by 1.3% in the first quarter. Comerica Bank now owns 13,775 shares of the oil and natural gas company’s stock worth $101,000 after buying an additional 180 shares during the last quarter. World Asset Management Inc boosted its stake in shares of Enerplus Corporation by 3.9% in the first quarter. World Asset Management Inc now owns 14,959 shares of the oil and natural gas company’s stock worth $120,000 after buying an additional 568 shares during the last quarter. Private Capital Management Inc. purchased a new stake in shares of Enerplus Corporation during the second quarter worth about $122,000. ETRADE Capital Management LLC boosted its position in Enerplus Corporation by 5.8% in the second quarter. ETRADE Capital Management LLC now owns 15,052 shares of the oil and natural gas company’s stock worth $122,000 after buying an additional 822 shares in the last quarter. Finally, Creative Planning boosted its position in Enerplus Corporation by 40.5% in the second quarter. Creative Planning now owns 17,605 shares of the oil and natural gas company’s stock worth $143,000 after buying an additional 5,074 shares in the last quarter. Institutional investors and hedge funds own 49.17% of the company’s stock.

About Enerplus Corporation

Enerplus Corporation is an oil and natural gas company. The Company’s oil and natural gas property interests are located in the United States, primarily in North Dakota, Montana, and Pennsylvania, as well as in western Canada in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s oil and natural gas property interests contains proved plus probable gross reserves of approximately 14.3 million barrels (MMbbls) of light and medium crude oil, 39.0 MMbbls of heavy crude oil, 123 MMbbls of tight oil, 18.1 MMbbls of natural gas liquids (NGLs), 126.3 billion cubic feet (Bcf) of conventional natural gas and 1,002.8 Bcf of shale gas, for a total of approximately 382.5 million barrels of oil equivalent (MMBOE).

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