Enerplus (TSE:ERF) Share Price Crosses Above 200 Day Moving Average of $22.82

Enerplus Co. (TSE:ERF) (NYSE:ERF)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$22.82 and traded as high as C$27.89. Enerplus shares last traded at C$26.93, with a volume of 605,227 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ERF. ATB Capital reduced their price target on Enerplus from C$27.00 to C$26.50 in a report on Tuesday, January 2nd. Desjardins upped their target price on Enerplus from C$19.25 to C$20.00 and gave the stock a “tender” rating in a report on Tuesday, April 23rd. Stifel Nicolaus upped their target price on Enerplus from C$27.25 to C$32.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. National Bankshares reduced their target price on Enerplus from C$21.00 to C$18.85 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. Finally, Scotiabank upped their target price on Enerplus from C$24.00 to C$25.50 and gave the stock a “sector perform” rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Enerplus currently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.36.

Enerplus Price Performance

The company has a current ratio of 0.80, a quick ratio of 0.61 and a debt-to-equity ratio of 17.31. The firm has a market cap of C$5.47 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 0.25 and a beta of 2.65. The stock has a 50 day simple moving average of C$25.99 and a 200-day simple moving average of C$22.82.

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

Enerplus Announces Dividend

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

Insiders Place Their Bets

In other news, Senior Officer Ian Charles Dundas sold 104,537 shares of Enerplus stock in a transaction that occurred 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 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.