Analysts seem to be optimistic about Enerplus (ERF) lately, as another research firm gave the stock a Buy rating yesterday. Analyst Kurt Molnar from Raymond James rated Enerplus (ERF) a Buy, setting a C$20 price target.
According to TipRanks.com, Molnar is ranked 0 out of 5 stars with an average return of -28.6% and a 10.6% success rate. Molnar covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Birchcliff Energy Ltd, and NuVista Energy Ltd.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Enerplus with a C$20.75 average price target, representing a 71.3% upside. In a report issued on November 27, SunTrust Robinson also reiterated a Buy rating on the stock.
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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$16.13 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 Thursday at C$12.12.
