What’s in Enerplus Corporation (ERF) After Touching 52-Week High?

January 14, 2018 - By Jacob Falcon

The stock of Enerplus Corporation (NYSE:ERF) hit a new 52-week high and has $11.53 target or 6.00 % above today’s $10.88 share price. The 9 months bullish chart indicates low risk for the $2.59 billion company. The 1-year high was reported on Jan, 14 by Barchart.com. If the $11.53 price target is reached, the company will be worth $155.58 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 2.54% or $0.27 during the last trading session, reaching $10.88. About 1.25 million shares traded or 24.82% up from the average. Enerplus Corporation (NYSE:ERF) has risen 69.92% since January 14, 2017 and is uptrending. It has outperformed by 53.22% the S&P500.

Analysts await Enerplus Corporation (NYSE:ERF) to report earnings on February, 23. They expect $0.12 earnings per share, 0.00 % or $0.00 from last year’s $0.12 per share. ERF’s profit will be $28.60M for 22.67 P/E if the $0.12 EPS becomes a reality. After $0.06 actual earnings per share reported by Enerplus Corporation for the previous quarter, Wall Street now forecasts 100.00 % EPS growth.

Enerplus Corporation (NYSE:ERF) Ratings Coverage

Among 6 analysts covering Enerplus Corp (NYSE:ERF), 6 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Enerplus Corp has $14.5 highest and $9.50 lowest target. $11.60’s average target is 6.62% above currents $10.88 stock price. Enerplus Corp had 14 analyst reports since July 21, 2015 according to SRatingsIntel. As per Friday, February 10, the company rating was upgraded by BMO Capital Markets. The company was maintained on Monday, November 9 by RBC Capital Markets. The company was initiated on Friday, December 18 by Raymond James. The rating was upgraded by Macquarie Research to “Outperform” on Monday, June 6. The rating was initiated by Canaccord Genuity with “Buy” on Wednesday, August 17. The firm has “Outperform” rating given on Monday, June 6 by Raymond James. Macquarie Research downgraded the stock to “Neutral” rating in Friday, January 8 report. The rating was upgraded by FirstEnergy Capital on Monday, August 10 to “Market Perform”. UBS upgraded Enerplus Corporation (NYSE:ERF) on Monday, November 9 to “Buy” rating.

More notable recent Enerplus Corporation (NYSE:ERF) news were published by: Dividend.com which released: “Enerplus Corporation” on March 11, 2011, also Fool.ca with their article: “3 Big Changes Are Coming to Enerplus Corp.” published on November 12, 2015, Fool.ca published: “Should You Buy Enerplus Corp After it Cut Its Dividend?” on February 24, 2015. More interesting news about Enerplus Corporation (NYSE:ERF) were released by: Fool.ca and their article: “3 Reasons to Avoid Enerplus Corp and its 10.4% Dividend” published on December 17, 2014 as well as Fool.ca‘s news article titled: “Energy Investors: Encana Corporation or Enerplus Corp.?” with publication date: May 05, 2016.

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of natural gas and crude oil in the United States and Canada. The company has market cap of $2.59 billion. The companyÂ’s oil and natural gas properties are located primarily in North Dakota, Montana, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan. It has a 3.21 P/E ratio. As of December 31, 2016, it had proved plus probable gross reserves of approximately 14.3 million barrels of light and medium crude oil; 39.0 MMbbls of heavy crude oil; 123.0 MMbbls of tight oil; 18.1 MMbbls of natural gas liquids; 126.3 billion cubic feet (Bcf) of conventional natural gas; and 1,002.8 Bcf of shale gas.

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