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


Enerplus Corporation [NYSE: ERF] closed the trading session at $11.33 on 01/13/22. The day’s price range saw the stock hit a low of $11.275, while the highest price level was $11.72. 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.

The stocks have a year to date performance of 7.09 percent and weekly performance of 1.80 percent. The stock has been moved at 85.74 percent over the last six months. The stock has performed 17.53 percent around the most recent 30 days and changed 21.96 percent over the most recent 3-months.

If compared to the average trading volume of 2.24M shares, ERF reached to a volume of 2860551 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Enerplus Corporation [ERF]:

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 0.49, with the Price to Sales ratio for ERF stock in the period of the last 12 months amounting to 2.58. The Price to Book ratio for the last quarter was 5.37, 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 8.22 with Quick ratio for the last quarter at 0.50.

ERF stock trade performance evaluation

Enerplus Corporation [ERF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.80. With this latest performance, ERF shares gained by 17.53% in over the last four-week period, additionally plugging by 85.74% over the last 6 months – not to mention a rise of 196.60% 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 60.06, with the RSI for the last a single of trading hit 60.97, and the three-weeks RSI is set at 59.26 for Enerplus Corporation [ERF]. The present Moving Average for the last 50 days of trading for this stock 10.24, while it was recorded at 11.31 for the last single week of trading, and 7.54 for the last 200 days.

Enerplus Corporation [ERF]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Enerplus Corporation [ERF] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ERF. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Enerplus Corporation go to 28.22%.

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Enerplus Corporation [ERF]: Insider Ownership positions

There are presently around $1,468 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 $135.83 million in ERF stocks shares; and ADAGE CAPITAL PARTNERS GP, L.L.C., currently with $94.09 million in ERF stock with ownership of nearly 51.137% of the company’s market capitalization.

64 institutional holders increased their position in Enerplus Corporation [NYSE:ERF] by around 15,485,842 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 125,350,817 shares, according to the latest SEC report filing. ERF stock had 18 new institutional investments in for a total of 2,604,471 shares, while 20 institutional investors sold positions of 4,352,297 shares during the same period.