It Seems Enerplus Corporation (ERF) Will Go Up. Just Reaches 52-Week High

April 19, 2018 - By Vivian Currie

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The stock of Enerplus Corporation (NYSE:ERF) hit a new 52-week high and has $12.93 target or 9.00 % above today’s $11.86 share price. The 9 months bullish chart indicates low risk for the $2.79 billion company. The 1-year high was reported on Apr, 19 by Barchart.com. If the $12.93 price target is reached, the company will be worth $251.37 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 decreased 1.82% or $0.22 during the last trading session, reaching $11.86. About 714,890 shares traded. Enerplus Corporation (NYSE:ERF) has risen 46.73% since April 19, 2017 and is uptrending. It has outperformed by 35.18% the S&P500.

Analysts await Enerplus Corporation (NYSE:ERF) to report earnings on May, 4. They expect $0.20 earnings per share, down 13.04 % or $0.03 from last year’s $0.23 per share. ERF’s profit will be $47.10 million for 14.83 P/E if the $0.20 EPS becomes a reality. After $0.27 actual earnings per share reported by Enerplus Corporation for the previous quarter, Wall Street now forecasts -25.93 % negative EPS growth.

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 $2.79 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 15.81 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.

Enerplus Corporation (NYSE:ERF) Ratings Chart

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