In a new note to investors yesterday, an analyst has provided a rating update for Enerplus (ERF). Analyst Jamie Kubik from CIBC rated Enerplus (ERF) a Buy, setting a C$18 price target.
According to TipRanks.com, Kubik ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -17.3% and a 23.7% success rate. Kubik covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.
Currently, the analyst consensus on Enerplus is a Strong Buy with an average price target of C$17.38, a 53.7% upside from current levels. In a report issued on January 28, Raymond James also maintained a Buy rating on the stock with a C$20 price target.
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Based on Enerplus’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$86.92 million. In comparison, last year the company had a net profit of C$15.27 million.
Enerplus Corp. engages in the exploration and production of crude oil and natural gas. Its portfolio includes Willston Basin, Marcellus, and Waterfoolds. The company was founded in 1986 and is headquartered in Calgary, Canada.
The company’s shares closed on Friday at C$11.31.
