Q1 2024 EPS Estimates for Enerplus Co. (TSE:ERF) Cut by Analyst

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

Several other research analysts also recently commented on the company. Desjardins boosted 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. Scotiabank boosted 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. 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. ATB Capital reduced their target price on Enerplus from C$27.00 to C$26.50 in a report on Tuesday, January 2nd. Finally, Stifel Nicolaus upped their price objective on Enerplus from C$27.25 to C$32.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$24.36.

Enerplus Stock Up 0.4 %

Shares of ERF opened at C$27.73 on Monday. The company has a market capitalization of C$5.64 billion, a P/E ratio of 9.76, a PEG ratio of 0.25 and a beta of 2.65. The company has a debt-to-equity ratio of 17.31, a current ratio of 0.80 and a quick ratio of 0.61. Enerplus has a one year low of C$18.23 and a one year high of C$28.84. The business’s 50 day simple moving average is C$25.40 and its 200-day simple moving average is C$22.66.

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

Insiders Place Their Bets

In other Enerplus 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. Company insiders own 0.29% of the company’s stock.

Enerplus Dividend Announcement

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

Enerplus Company Profile

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.