Scotiabank slashes price target on Enerplus Corporation [ERF] – find out why.

Enerplus Corporation [NYSE: ERF] traded at a low on 07/13/21, posting a -1.45 loss after which it closed the day’ session at $6.79. The company report on July 8, 2021 that Enerplus to Report Second Quarter 2021 Results August 5.

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Enerplus Corporation (“Enerplus” or the “Company”) (TSX: ERF) (NYSE: ERF) will be releasing operating and financial results for the second quarter of 2021 after market close on Thursday, August 5, 2021. A results conference call will follow on Friday, August 6, 2021, hosted by Enerplus’ President & CEO, Ian C. Dundas, to discuss the results. Details of the conference call are noted below.

Second Quarter of 2021 Results Live Conference Call Details.

The results of the trading session contributed to over 1656341 shares changing hands. Over the past one week, the price volatility of Enerplus Corporation stands at 4.87% while the volatility over the past one month is 4.35%.

The market cap for ERF stock reached $1.70 billion, with 244.07 million shares outstanding and 219.15 million shares in the current float. Compared to the average trading volume of 1.68M shares, ERF reached a trading volume of 1656341 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Enerplus Corporation [ERF]?

Scotiabank have made an estimate for Enerplus Corporation shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on June 09, 2021. The new note on the price target was released on March 09, 2020, representing the official price target for Enerplus Corporation stock. Previously, the target price had yet another raise to $12, while CapitalOne analysts kept a Overweight rating on ERF stock.

The Average True Range (ATR) for Enerplus Corporation is set at 0.30, with the Price to Sales ratio for ERF stock in the period of the last 12 months amounting to 2.67. The Price to Book ratio for the last quarter was 3.13, with the Price to Cash per share for the same quarter was set at 0.60. Price to Free Cash Flow for ERF in the course of the last twelve months was 6.60 with Quick ratio for the last quarter at 0.80.

How has ERF stock performed recently?

Enerplus Corporation [ERF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.59. With this latest performance, ERF shares dropped by -4.23% in over the last four-week period, additionally plugging by 89.66% over the last 6 months – not to mention a rise of 180.58% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ERF stock in for the last two-week period is set at 47.59, with the RSI for the last a single of trading hit 43.72, and the three-weeks RSI is set at 50.46 for Enerplus Corporation [ERF]. The present Moving Average for the last 50 days of trading for this stock 6.67, while it was recorded at 6.79 for the last single week of trading, and 4.38 for the last 200 days.

Enerplus Corporation [ERF]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Enerplus Corporation [ERF] shares currently have an operating margin of -8.07 and a Gross Margin at -0.25. Enerplus Corporation’s Net Margin is presently recorded at -125.25.

Return on Total Capital for ERF is now -3.72, given the latest momentum, and Return on Invested Capital for the company is -62.53. Return on Equity for this stock declined to -92.00, with Return on Assets sitting at -44.67. When it comes to the capital structure of this company, Enerplus Corporation [ERF] has a Total Debt to Total Equity ratio set at 98.43. Additionally, ERF Total Debt to Total Capital is recorded at 49.60, with Total Debt to Total Assets ending up at 35.95. Long-Term Debt to Equity for the company is recorded at 76.54, with the Long-Term Debt to Total Capital now at 38.58.

Reflecting on the efficiency of the workforce at the company, Enerplus Corporation [ERF] managed to generate an average of -$2,564,908 per employee. Receivables Turnover for the company is 4.75 with a Total Asset Turnover recorded at a value of 0.36.Enerplus Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

Insider trade positions for Enerplus Corporation [ERF]

There are presently around $924 million, or 28.30% of ERF stock, in the hands of institutional investors. The top three institutional holders of ERF stocks are: KEY GROUP HOLDINGS (CAYMAN), LTD. with ownership of 21,109,699, which is approximately -0.48% of the company’s market cap and around 1.30% of the total institutional ownership; ENCOMPASS CAPITAL ADVISORS LLC, holding 15,403,064 shares of the stock with an approximate value of $104.59 million in ERF stocks shares; and CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD., currently with $61.37 million in ERF stock with ownership of nearly 3.361% of the company’s market capitalization.

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Positions in Enerplus Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 95 institutional holders increased their position in Enerplus Corporation [NYSE:ERF] by around 38,593,260 shares. Additionally, 49 investors decreased positions by around 17,159,849 shares, while 17 investors held positions by with 80,295,495 shares. The mentioned changes placed institutional holdings at 136,048,604 shares, according to the latest SEC report filing. ERF stock had 31 new institutional investments in for a total of 11,399,156 shares, while 19 institutional investors sold positions of 9,653,316 shares during the same period.

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