RBC Capital analyst Gregory Pardy maintained a Buy rating on Enerplus (ERF) on January 11 and set a price target of C$5.00. The company’s shares closed last Tuesday at $3.76.
According to TipRanks.com, Pardy is a 2-star analyst with an average return of 0.8% and a 48.8% success rate. Pardy covers the Utilities sector, focusing on stocks such as Canadian Natural, Vermilion Energy, and Cenovus Energy.
Enerplus has an analyst consensus of Strong Buy, with a price target consensus of $3.91, implying an 8.3% upside from current levels. In a report issued on December 28, National Bank also maintained a Buy rating on the stock with a C$4.75 price target.
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Based on Enerplus’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $240 million and GAAP net loss of $113 million. In comparison, last year the company earned revenue of $402 million and had a net profit of $65.18 million.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ERF in relation to earlier this year.
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Enerplus Corp. engages in the exploration and production of crude oil and natural gas. It conducts operations in Willston Basin, Marcellus Shale, and Canadian Waterfloods. The company was founded in 1986 and is headquartered in Calgary, Canada.
