Q2 2023 EPS Estimates for Enerplus Co. Reduced by Analyst (TSE:ERF)

Enerplus Co. (TSE:ERF – Get Rating) (NYSE:ERF) – Analysts at Capital One Financial decreased their Q2 2023 EPS estimates for shares of Enerplus in a research note issued to investors on Tuesday, March 14th. Capital One Financial analyst B. Velie now anticipates that the oil and natural gas company will post earnings per share of $0.85 for the quarter, down from their prior forecast of $0.87. The consensus estimate for Enerplus’ current full-year earnings is $3.32 per share.

ERF has been the subject of several other reports. BMO Capital Markets decreased their price objective on shares of Enerplus from C$20.00 to C$19.00 in a research report on Tuesday, December 13th. Stifel Nicolaus reduced their price target on Enerplus from C$33.00 to C$30.50 in a report on Monday, January 16th. Finally, Barclays set a C$28.00 price objective on shares of Enerplus and gave the company an “equal weight” rating in a report on Wednesday, January 18th.

Enerplus Stock Performance

ERF opened at C$18.37 on Thursday. The firm has a market cap of C$3.98 billion, a P/E ratio of 3.85, a PEG ratio of 0.25 and a beta of 2.86. The company has a 50 day simple moving average of C$22.35 and a two-hundred day simple moving average of C$22.36. The company has a debt-to-equity ratio of 26.23, a current ratio of 0.81 and a quick ratio of 0.61. Enerplus has a 1-year low of C$14.48 and a 1-year high of C$25.72.

Enerplus Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Monday, March 6th were given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Friday, March 3rd. Enerplus’s payout ratio is 6.29%.

Insiders Place Their Bets

In related news, Senior Officer Ian Charles Dundas sold 157,819 shares of the stock in a transaction 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 sale, the insider now owns 324,352 shares of the company’s stock, valued at C$7,203,663.31. 0.20% of the stock is currently owned by company insiders.

About Enerplus

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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.