Brokers Set Expectations for Enerplus Co.’s Q1 2024 Earnings (TSE:ERF)

Enerplus Co. (TSE:ERF) (NYSE:ERF) – Research analysts at Capital One Financial dropped their Q1 2024 EPS estimates for Enerplus in a research report issued on Friday, April 19th. Capital One Financial analyst B. Velie now forecasts that the oil and natural gas company will post earnings per share of $0.48 for the quarter, down from their prior forecast of $0.50. The consensus estimate for Enerplus’ current full-year earnings is $3.00 per share.

Several other research firms have also weighed in on ERF. ATB Capital lowered their price target on Enerplus from C$27.00 to C$26.50 in a research report on Tuesday, January 2nd. Desjardins upped 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 report on Friday, March 22nd. National Bankshares decreased their price objective on shares of Enerplus from C$21.00 to C$18.85 and set an “outperform” rating for the company in a research report on Thursday, February 22nd. Stifel Nicolaus dropped their price objective on Enerplus from C$27.75 to C$27.25 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, Scotiabank lifted their target price on 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. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Enerplus presently has an average rating of “Moderate Buy” and a consensus price target of C$23.67.

Enerplus Price Performance

TSE:ERF opened at C$27.61 on Monday. Enerplus has a 52-week low of C$18.23 and a 52-week high of C$28.84. The company has a market cap of C$5.61 billion, a P/E ratio of 9.72, a P/E/G 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. The stock’s 50-day simple moving average is C$25.27 and its 200 day simple moving average is C$22.63.

Enerplus (TSE:ERF) (NYSE:ERF) last released its earnings results on Wednesday, February 21st. The oil and natural gas company reported C$0.74 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.71 by C$0.03. Enerplus had a net margin of 29.85% and a return on equity of 39.59%. The business had revenue of C$595.12 million during the quarter.

Insider Buying and Selling at Enerplus

In other news, Senior Officer Ian Charles Dundas sold 104,537 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of C$24.13, for a total transaction of C$2,521,965.58. Insiders own 0.29% of the company’s stock.

Enerplus Dividend Announcement

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

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.