Enerplus Corporation [NYSE: ERF] gained 8.16% or 1.17 points to close at $15.50 with a heavy trading volume of 16939429 shares. The company report on January 25, 2024 at 5:05 PM that Enerplus Provides Fourth Quarter & Operational Update; Full-Year Results & Reserves to be Released February 22.
All financial information contained within this news release has been prepared in accordance with U.S. GAAP and is presented in U.S. dollars. Production information, unless otherwise stated, is presented on a net basis (after deduction of royalty obligations). 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 “Notice Regarding Information Contained in this News Release” at the end of this news release for information regarding the presentation of the financial and operational information in this news release. 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 provided production results, capital spending and return of capital results for the fourth quarter of 2023, along with an update regarding production impacts from the recent cold weather in North Dakota.
The daily chart for ERF points out that the company has recorded -9.41% loss over the past six months.
If we look at the average trading volume of 1.36M shares, ERF reached to a volume of 16939429 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 $19.55 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 1.50. 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.
Barclays have made an estimate for Enerplus Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 20, 2023.
The Average True Range (ATR) for Enerplus Corporation is set at 0.45, with the Price to Sales ratio for ERF stock in the period of the last 12 months amounting to 1.80. The Price to Book ratio for the last quarter was 2.65, with the Price to Cash per share for the same quarter was set at 0.22. Price to Free Cash Flow for ERF in the course of the last twelve months was 8.61 with Quick ratio for the last quarter at 0.87.
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 9.31. With this latest performance, ERF shares gained by 5.87% in over the last four-week period, additionally sinking by -9.41% over the last 6 months – not to mention a drop of -10.87% 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 63.02, with the RSI for the last a single of trading hit 70.15, and the three-weeks RSI is set at 57.93 for Enerplus Corporation [ERF]. The present Moving Average for the last 50 days of trading for this stock 14.83, while it was recorded at 14.29 for the last single week of trading, and 15.66 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 0.87 and a Current Ratio set at 0.87.
Enerplus Corporation [ERF]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Enerplus Corporation posted 1.43/share EPS, while the average EPS was predicted by analysts to be reported at 0.68/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 110.30%. 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 42.26%.
An analysis of Institutional ownership at Enerplus Corporation [ERF]
The top three institutional holders of ERF stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ERF stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ERF stock with ownership which is approximately 5.8325%.
