Enerplus Co. Forecasted to Post FY2023 Earnings of $3.17 Per Share (TSE:ERF)

Enerplus Co. (TSE:ERF) (NYSE:ERF) – Stock analysts at Capital One Financial decreased their FY2023 earnings per share (EPS) estimates for shares of Enerplus in a note issued to investors on Wednesday, November 15th. Capital One Financial analyst B. Velie now forecasts that the oil and natural gas company will post earnings per share of $3.17 for the year, down from their prior forecast of $3.25. The consensus estimate for Enerplus’ current full-year earnings is $3.97 per share. Capital One Financial also issued estimates for Enerplus’ Q4 2023 earnings at $0.93 EPS, Q1 2024 earnings at $0.93 EPS, Q3 2024 earnings at $0.98 EPS and FY2024 earnings at $3.91 EPS.

Several other equities analysts have also recently issued reports on ERF. Stifel Nicolaus lifted their price target on Enerplus from C$31.00 to C$32.25 and gave the company a “buy” rating in a research report on Friday, November 3rd. Desjardins raised their target price on Enerplus from C$21.00 to C$23.00 and gave the stock a “buy” rating in a research report on Monday, September 18th. BMO Capital Markets raised their target price on Enerplus from C$22.00 to C$24.00 in a research report on Monday, October 16th. Royal Bank of Canada raised their target price on Enerplus from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. Finally, Scotiabank raised their target price on Enerplus from C$25.00 to C$27.00 and gave the stock a “sector perform” rating in a research report on Friday, November 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$25.89.

Enerplus Trading Down 0.5 %

Shares of TSE ERF opened at C$22.17 on Monday. The company has a market cap of C$4.56 billion, a price-to-earnings ratio of 5.54, a price-to-earnings-growth ratio of 0.25 and a beta of 2.73. Enerplus has a 12-month low of C$17.65 and a 12-month high of C$25.60. The company has a current ratio of 0.87, a quick ratio of 0.61 and a debt-to-equity ratio of 23.15. The stock’s 50 day simple moving average is C$23.23 and its 200 day simple moving average is C$21.59.

Enerplus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.24 annualized dividend and a yield of 1.08%. Enerplus’s dividend payout ratio (DPR) is 8.25%.

Enerplus Company Profile

Enerplus Corporation, together with subsidiaries, acquires, develops, and explores crude oil and natural gas in the United States. Its oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania. Enerplus Corporation was founded in 1986 and is headquartered in Calgary, Canada.