Canaccord Genuity analyst Dennis Fong maintained a Buy rating on Enerplus (ERF) on May 8 and set a price target of C$4.00. The company’s shares closed last Monday at $2.48.
According to TipRanks.com, Fong is a 1-star analyst with an average return of -2.4% and a 41.4% success rate. Fong covers the Utilities sector, focusing on stocks such as PrairieSky Royalty, Abraxas Petroleum, and Birchcliff Energy.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Enerplus with a $3.71 average price target, representing a 44.4% upside. In a report issued on April 23, National Bank also maintained a Buy rating on the stock with a C$4.75 price target.
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The company has a one-year high of $8.98 and a one-year low of $1.15. Currently, Enerplus has an average volume of 2.13M.
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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.
