Enerplus (TSE:ERF) Stock Passes Above 200-Day Moving Average of $22.59

Enerplus Co. (TSE:ERF) (NYSE:ERF)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$22.59 and traded as high as C$27.62. Enerplus shares last traded at C$27.41, with a volume of 317,540 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ERF. ATB Capital decreased their price target on shares of Enerplus from C$27.00 to C$26.50 in a research note on Tuesday, January 2nd. National Bankshares decreased their price target on shares of Enerplus from C$21.00 to C$18.85 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Scotiabank raised their price target on shares of Enerplus from C$24.00 to C$25.50 and gave the stock a “sector perform” rating in a research note on Thursday, February 22nd. Stifel Nicolaus decreased their price target on shares of Enerplus from C$27.75 to C$27.25 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Finally, Desjardins raised their price target on shares of Enerplus from C$17.50 to C$19.25 and gave the stock a “tender” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$23.67.

Enerplus Price Performance

The business’s 50 day moving average is C$25.15 and its two-hundred day moving average is C$22.59. The firm has a market capitalization of C$5.57 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.25 and a beta of 2.65. The company has a debt-to-equity ratio of 17.31, a quick ratio of 0.61 and a current ratio of 0.80.

Enerplus (TSE:ERF) (NYSE:ERF) last released its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported C$0.74 EPS for the quarter, beating analysts’ consensus estimates of C$0.71 by C$0.03. The firm had revenue of C$595.12 million during the quarter. Enerplus had a net margin of 29.85% and a return on equity of 39.59%. Equities research analysts anticipate that Enerplus Co. will post 3.001087 earnings per share for the current fiscal year.

Enerplus Dividend Announcement

The company also recently declared a mar 24 dividend, which was paid on Monday, March 4th. Stockholders of record on Friday, March 15th were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Friday, March 1st. Enerplus’s dividend payout ratio (DPR) is currently 12.32%.

Insider Transactions at Enerplus

In other news, Senior Officer Ian Charles Dundas sold 104,537 shares of Enerplus stock in a transaction on Friday, March 1st. The shares were sold at an average price of C$24.13, for a total transaction of C$2,521,965.58. 0.29% of the stock is currently owned by insiders.

About Enerplus

Enerplus Corporation, together with its subsidiaries, explores and develops crude oil and natural gas in the United States. Its oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania. The company was founded in 1986 and is headquartered in Calgary, Canada.