Enerplus Corporation [NYSE: ERF] stock went on an upward path that rose over 4.90% on Thursday, amounting to a one-week price increase of more than 7.43%. The company report on December 1, 2021 that Enerplus Provides Update on Share Repurchase Program.
Enerplus Corporation (“Enerplus” or the “Company”) (TSX: ERF) (NYSE: ERF) announced today that it had repurchased 8.4 million shares for $107 million under its normal course issuer bid (“NCIB”) during November.
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The Company remains committed to executing its $200 million share repurchase program (announced on November 4, 2021) by the end of the first quarter of 2022. Share repurchases are expected to be funded out of fourth quarter 2021 and first quarter 2022 free cash flow, representing approximately 55% of forecasted free cash flow over this period based on current forward strip commodity prices.
Over the last 12 months, ERF stock rose by 205.77%. The one-year Enerplus Corporation stock forecast points to a potential upside of 19.0. The average equity rating for ERF stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.77 billion, with 256.35 million shares outstanding and 253.76 million shares in the current float. Compared to the average trading volume of 2.17M shares, ERF stock reached a trading volume of 3678252 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Enerplus Corporation [ERF]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ERF shares is $13.74 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ERF stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Scotiabank have made an estimate for Enerplus Corporation shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on August 26, 2021. The new note on the price target was released on June 09, 2021, representing the official price target for Enerplus Corporation stock.
The Average True Range (ATR) for Enerplus Corporation is set at 0.54, with the Price to Sales ratio for ERF stock in the period of the last 12 months amounting to 2.47. The Price to Book ratio for the last quarter was 5.27, with the Price to Cash per share for the same quarter was set at 0.17. Price to Free Cash Flow for ERF in the course of the last twelve months was 7.88 with Quick ratio for the last quarter at 0.50.
ERF Stock Performance Analysis:
Enerplus Corporation [ERF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.43. With this latest performance, ERF shares gained by 4.31% in over the last four-week period, additionally plugging by 61.54% over the last 6 months – not to mention a rise of 205.77% 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 60.84, with the RSI for the last a single of trading hit 63.69, and the three-weeks RSI is set at 59.47 for Enerplus Corporation [ERF]. The present Moving Average for the last 50 days of trading for this stock 10.06, while it was recorded at 10.86 for the last single week of trading, and 7.38 for the last 200 days.
Insight into Enerplus Corporation 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 0.50 and a Current Ratio set at 0.50.
Enerplus Corporation [ERF] Insider Position Details
There are presently around $1,330 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 14,888,217, which is approximately -12.863% of the company’s market cap and around 1.30% of the total institutional ownership; CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD., holding 11,599,542 shares of the stock with an approximate value of $123.07 million in ERF stocks shares; and ADAGE CAPITAL PARTNERS GP, L.L.C., currently with $85.26 million in ERF stock with ownership of nearly 51.137% of the company’s market capitalization.
Positions in Enerplus Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 63 institutional holders increased their position in Enerplus Corporation [NYSE:ERF] by around 15,485,692 shares. Additionally, 70 investors decreased positions by around 24,500,229 shares, while 33 investors held positions by with 85,364,746 shares. The mentioned changes placed institutional holdings at 125,350,667 shares, according to the latest SEC report filing. ERF stock had 17 new institutional investments in for a total of 2,604,321 shares, while 20 institutional investors sold positions of 4,352,297 shares during the same period.