Q1 2024 EPS Estimates for Enerplus Co. (TSE:ERF) Cut by Analyst

Enerplus Co. (TSE:ERF) (NYSE:ERF) – Equities researchers at Capital One Financial lowered their Q1 2024 EPS estimates for Enerplus in a research note issued on Friday, April 19th. Capital One Financial analyst B. Velie now forecasts that the oil and natural gas company will post earnings of $0.48 per share for the quarter, down from their prior estimate of $0.50. The consensus estimate for Enerplus’ current full-year earnings is $3.00 per share.

Enerplus (TSE:ERF) (NYSE:ERF) last issued its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported C$0.74 EPS for the quarter, topping analysts’ consensus estimates of C$0.71 by C$0.03. The company had revenue of C$595.12 million for the quarter. Enerplus had a net margin of 29.85% and a return on equity of 39.59%.

Other equities analysts have also issued research reports about the stock. National Bankshares cut their price target on shares of Enerplus from C$21.00 to C$18.85 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. Scotiabank lifted their price target on shares of Enerplus from C$24.00 to C$25.50 and gave the stock a “sector perform” rating in a report on Thursday, February 22nd. ATB Capital lowered their target price on shares of Enerplus from C$27.00 to C$26.50 in a research note on Tuesday, January 2nd. Desjardins lifted their target price on shares of Enerplus from C$19.25 to C$20.00 and gave the stock a “tender” rating in a research note on Tuesday. Finally, Stifel Nicolaus lifted their target price on shares of Enerplus from C$27.25 to C$32.00 and gave the stock a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Enerplus has a consensus rating of “Moderate Buy” and an average target price of C$24.36.

Enerplus Price Performance

Shares of TSE:ERF opened at C$27.73 on Monday. The firm has a market cap of C$5.64 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 0.25 and a beta of 2.65. The firm’s fifty day moving average is C$25.40 and its 200-day moving average is C$22.66. The company has a debt-to-equity ratio of 17.31, a quick ratio of 0.61 and a current ratio of 0.80. Enerplus has a 52 week low of C$18.23 and a 52 week high of C$28.84.

Enerplus Dividend Announcement

The company also recently announced a mar 24 dividend, which was paid on Monday, March 4th. Investors of record on Friday, March 15th were paid a dividend of $0.065 per share. The ex-dividend date was Friday, March 1st. Enerplus’s dividend payout ratio is presently 12.32%.

Insider Buying and Selling

In other Enerplus news, Senior Officer Ian Charles Dundas sold 104,537 shares of Enerplus stock in a transaction on Friday, March 1st. The shares were sold at an average price of C$24.13, for a total value of C$2,521,965.58. 0.29% of the stock is owned by insiders.

Enerplus Company Profile

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