Enerplus (ERF) Received its Third Buy in a Row


Analysts have been quite happy with Enerplus (ERF) stock lately, with another positive rating update this time from GMP FirstEnergy. Today, analyst Michael Dunn gave a Buy rating to ERF and set a C$18 price target.

According to TipRanks.com, Dunn has currently no stars on a ranking scale of 0-5 stars, with an average return of -15.1% and a 23.3% success rate. Dunn covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, PrairieSky Royalty Ltd, and Crescent Point Energy.

Currently, the analyst consensus on Enerplus is a Strong Buy with an average price target of C$17.75, representing a 52.4% upside. In a report released yesterday, Raymond James also maintained a Buy rating on the stock with a C$20 price target.

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The company has a one-year high of C$18.04 and a one-year low of C$9.65. Currently, Enerplus has an average volume of 1.16M.

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 Tuesday at C$11.65.

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