FY2019 EPS Estimates for Enerplus Corp (ERF) Lowered by Analyst

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Enerplus Corp (TSE:ERF) (NYSE:ERF) – Stock analysts at National Bank Financial lowered their FY2019 earnings per share estimates for Enerplus in a research note issued to investors on Monday, June 18th. National Bank Financial analyst T. Wood now expects that the oil and natural gas company will post earnings per share of $2.50 for the year, down from their previous forecast of $2.51. National Bank Financial currently has a “Outperform” rating and a $18.50 target price on the stock.

Several other analysts also recently issued reports on ERF. Raymond James boosted their target price on shares of Enerplus from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research note on Friday, May 4th. CIBC boosted their target price on shares of Enerplus from C$19.00 to C$20.00 in a research note on Friday, May 18th. TD Securities cut their target price on shares of Enerplus from C$18.50 to C$18.00 and set a “buy” rating on the stock in a research note on Friday, May 4th. Desjardins upped their price target on shares of Enerplus from C$16.00 to C$17.50 in a research note on Monday, February 26th. Finally, Canaccord Genuity upped their price target on shares of Enerplus from C$16.50 to C$17.00 in a research note on Monday, February 26th. Seven analysts have rated the stock with a buy rating, Enerplus presently has a consensus rating of “Buy” and an average price target of C$18.29.

Shares of TSE:ERF opened at C$15.32 on Wednesday. Enerplus has a 12-month low of C$9.75 and a 12-month high of C$17.21.

Enerplus (TSE:ERF) (NYSE:ERF) last announced its earnings results on Thursday, May 3rd. The oil and natural gas company reported C$0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.25 by C($0.13). Enerplus had a net margin of 5.63% and a return on equity of 3.85%. The firm had revenue of C$265.02 million for the quarter, compared to analyst estimates of C$270.00 million.

In related news, insider Edward Mclaughlin sold 22,291 shares of the company’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of C$16.32, for a total value of C$363,789.12. Also, Director Glen Dawson Roane sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of C$16.04, for a total transaction of C$401,000.00.

The business also recently declared a jul 18 dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, June 28th.

About Enerplus

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. Its crude oil properties are located in the Fort Berthold region of North Dakota and the Elm Coulee field in Richland County, Montana; and crude oil Waterfloods in Alberta and Saskatchewan, Canada.

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