Enerplus Corporation (ERF) Stock Is An 52-Week High Flier

March 21, 2018 - By Henry Gaston

The stock of Enerplus Corporation (NYSE:ERF) hit a new 52-week high and has $12.59 target or 4.00 % above today’s $12.11 share price. The 5 months bullish chart indicates low risk for the $2.95B company. The 1-year high was reported on Mar, 21 by Barchart.com. If the $12.59 price target is reached, the company will be worth $117.84M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 9.89% or $1.09 during the last trading session, reaching $12.11. About 1.30M shares traded or 15.91% up from the average. Enerplus Corporation (NYSE:ERF) has risen 69.92% since March 21, 2017 and is uptrending. It has outperformed by 53.22% the S&P500.

Analysts await Enerplus Corporation (NYSE:ERF) to report earnings on May, 4. They expect $0.19 EPS, down 17.39 % or $0.04 from last year’s $0.23 per share. ERF’s profit will be $46.22M for 15.93 P/E if the $0.19 EPS becomes a reality. After $0.27 actual EPS reported by Enerplus Corporation for the previous quarter, Wall Street now forecasts -29.63 % negative EPS growth.

Enerplus Corporation (NYSE:ERF) Ratings Coverage

Among 6 analysts covering Enerplus Corp (NYSE:ERF), 6 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Enerplus Corp had 14 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of Enerplus Corporation (NYSE:ERF) earned “Outperform” rating by RBC Capital Markets on Monday, November 9. The rating was initiated by Raymond James with “Outperform” on Friday, December 18. The rating was upgraded by Macquarie Research to “Outperform” on Monday, June 6. The rating was upgraded by FirstEnergy Capital on Monday, August 10 to “Market Perform”. The stock of Enerplus Corporation (NYSE:ERF) earned “Outperform” rating by BMO Capital Markets on Friday, February 10. The stock has “Neutral” rating by Macquarie Research on Friday, January 8. The rating was reinitiated by Raymond James on Monday, June 6 with “Outperform”. Canaccord Genuity initiated the shares of ERF in report on Wednesday, August 17 with “Buy” rating. The stock has “Buy” rating by UBS on Monday, November 9.

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of natural gas and crude oil in the United States and Canada. The company has market cap of $2.95 billion. The companyÂ’s oil and natural gas properties are located primarily in North Dakota, Montana, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan. It has a 16.52 P/E ratio. As of December 31, 2016, it had proved plus probable gross reserves of approximately 14.3 million barrels of light and medium crude oil; 39.0 MMbbls of heavy crude oil; 123.0 MMbbls of tight oil; 18.1 MMbbls of natural gas liquids; 126.3 billion cubic feet (Bcf) of conventional natural gas; and 1,002.8 Bcf of shale gas.

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