Today, an analyst has provided a rating update for the Materials sector company, Enerplus (ERF). Raymond James’ analyst Kurt Molnar reiterates their Buy rating on the shares, with a C$25.50 price target.
According to TipRanks.com, Molnar has currently no stars on a ranking scale of 0-5 stars, with an average return of -24.9% and a 16.2% success rate. Molnar covers the Basic Materials sector, focusing on stocks such as Birchcliff Energy Ltd, NuVista Energy Ltd, and Vermilion Energy.
Currently, the analyst consensus on Enerplus is a Strong Buy with an average price target of C$22.50, implying a 69.2% upside from current levels. In a report issued on November 27, SunTrust Robinson also reiterated a Buy rating on the stock.
.
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 Monday at C$13.30.
