After CIBC and Stifel Nicolaus gave Enerplus (NYSE: ERF) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Gregory Pardy maintained a Buy rating on Enerplus today and set a price target of C$4.00. The company’s shares closed last Monday at $1.73, close to its 52-week low of $1.56.
According to TipRanks.com, Pardy has currently no stars on a ranking scale of 0-5 stars, with an average return of -10.0% and a 39.3% success rate. Pardy covers the Basic Materials sector, focusing on stocks such as Canadian Natural, Vermilion Energy, and Cenovus Energy.
Enerplus has an analyst consensus of Moderate Buy, with a price target consensus of $6.87.
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Based on Enerplus’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $325 million. In comparison, last year the company had a net profit of $189 million.
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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.
