Enerplus (TSE:ERF) Given a C$28.00 Price Target at Barclays

Barclays set a C$28.00 price target on Enerplus (TSE:ERF – Get Rating) (NYSE:ERF) in a report released on Wednesday morning, BayStreet.CA reports. The brokerage currently has an equal weight rating on the oil and natural gas company’s stock.

ERF has been the subject of a number of other reports. Scotiabank lowered shares of Enerplus from an outperform rating to a sector perform rating and increased their price target for the stock from C$25.00 to C$26.00 in a research report on Thursday, October 13th. BMO Capital Markets dropped their price objective on Enerplus from C$20.00 to C$19.00 in a report on Tuesday, December 13th. Finally, Stifel Nicolaus dropped their price objective on Enerplus from C$33.00 to C$30.50 in a report on Monday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of C$21.90.

Enerplus Price Performance

TSE ERF opened at C$23.42 on Wednesday. The company has a 50 day simple moving average of C$23.52 and a 200-day simple moving average of C$21.02. The company has a debt-to-equity ratio of 49.52, a current ratio of 0.65 and a quick ratio of 0.61. The firm has a market capitalization of C$5.25 billion and a price-to-earnings ratio of 5.56. Enerplus has a 52-week low of C$12.96 and a 52-week high of C$25.72.

Enerplus (TSE:ERF – Get Rating) (NYSE:ERF) last posted its quarterly earnings results on Thursday, November 3rd. The oil and natural gas company reported C$1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.92 by C$0.22. The company had revenue of C$940.16 million during the quarter. Equities research analysts predict that Enerplus will post 2.6699999 earnings per share for the current fiscal year.

Enerplus Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th were issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 0.94%. The ex-dividend date was Tuesday, November 29th. This is an increase from Enerplus’s previous quarterly dividend of $0.05. Enerplus’s dividend payout ratio (DPR) is 3.74%.

Insider Buying and Selling at Enerplus

In other Enerplus news, Senior Officer Ian Charles Dundas sold 157,819 shares of the stock in a transaction that occurred on Saturday, December 31st. The stock was sold at an average price of C$22.21, for a total transaction of C$3,505,065.30. Following the transaction, the insider now owns 324,352 shares in the company, valued at C$7,203,663.31.

Enerplus Company Profile

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Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company's oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.