Enerplus Corporation [ERF] is 75.14% higher this YTD. Is it still time to buy?

Enerplus Corporation [NYSE: ERF] loss -1.49% on the last trading session, reaching $18.53 price per share at the time. The company report on November 3, 2022 that Enerplus Announces Third Quarter 2022 Results; Increases Dividend and Updates 2022 Guidance.


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All financial information contained within this news release has been prepared in accordance with U.S. GAAP. This news release includes forward-looking statements and information within the meaning of applicable securities laws. Readers are advised to review the “Forward-Looking Information and Statements” at the conclusion of this news release. Readers are also referred to “Non-GAAP and Other Financial Measures” at the end of this news release for information regarding the presentation of the financial and operational information in this news release, as well as the use of certain financial measures that do not have standard meaning under U.S. GAAP and “Notice Regarding Information Contained in this News Release”, “Non-GAAP Measures” in Enerplus’ third quarter 2022 MD&A for supplementary financial measures, which information is incorporated by reference to this news release. A copy of Enerplus’ 2022 interim and 2021 annual Financial Statements and associated MD&A are or will be available on our website at www.enerplus.com, under our profile on SEDAR at www.sedar.com and on the EDGAR website at www.sec.gov. All amounts in this news release are stated in United States dollars unless otherwise specified.

Enerplus Corporation (“Enerplus” or the “Company”) (TSX: ERF) (NYSE: ERF) today announced financial and operating results for the third quarter of 2022, a 10% increase to its quarterly dividend to $0.055 per share and updated 2022 guidance. The Company reported third quarter 2022 cash flow from operating activities and adjusted funds flow of $409.9 million and $355.6 million, respectively, compared to $182.2 million and $203.1 million, respectively, in the third quarter of 2021. Cash flow from operating activities and adjusted funds flow increased from the same period in 2021 primarily due to higher realized commodity prices and production.

If compared to the average trading volume of 1.74M shares, ERF reached a trading volume of 2155253 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $18.15 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 1.90. 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 Perform, with their previous recommendation back on October 13, 2022. The new note on the price target was released on June 08, 2022, representing the official price target for Enerplus Corporation stock.

The Average True Range (ATR) for Enerplus Corporation is set at 0.82, with the Price to Sales ratio for ERF stock in the period of the last 12 months amounting to 1.83. The Price to Book ratio for the last quarter was 4.66, with the Price to Cash per share for the same quarter was set at 0.19.

Trading performance analysis for ERF stock

Enerplus Corporation [ERF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.93. With this latest performance, ERF shares gained by 9.26% in over the last four-week period, additionally plugging by 30.58% over the last 6 months – not to mention a rise of 74.98% 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 57.06, with the RSI for the last a single of trading hit 55.11, and the three-weeks RSI is set at 57.73 for Enerplus Corporation [ERF]. The present Moving Average for the last 50 days of trading for this stock 16.47, while it was recorded at 18.51 for the last single week of trading, and 14.29 for the last 200 days.

Enerplus Corporation [ERF]: A deeper dive into fundamental analysis

Enerplus Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.

Enerplus Corporation [ERF]: An earnings per share (EPS) analysis

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 42.78%.

An analysis of insider ownership at Enerplus Corporation [ERF]

There are presently around $2,207 million, or 28.30% of ERF stock, in the hands of institutional investors. The top three institutional holders of ERF stocks are: KGH LTD with ownership of 10,791,547, which is approximately -5.417% of the company’s market cap and around 1.30% of the total institutional ownership; VANGUARD GROUP INC, holding 8,062,634 shares of the stock with an approximate value of $149.4 million in ERF stocks shares; and ROYAL BANK OF CANADA, currently with $148.38 million in ERF stock with ownership of nearly 0.528% of the company’s market capitalization.

82 institutional holders increased their position in Enerplus Corporation [NYSE:ERF] by around 12,662,651 shares. Additionally, 100 investors decreased positions by around 15,764,932 shares, while 33 investors held positions by with 90,683,476 shares. The mentioned changes placed institutional holdings at 119,111,059 shares, according to the latest SEC report filing. ERF stock had 25 new institutional investments in for a total of 705,408 shares, while 25 institutional investors sold positions of 1,480,124 shares during the same period.

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