Raymond James Reaffirms Their Hold Rating on Enerplus (ERF)

By Jason Carr

Raymond James analyst Chris Cox maintained a Hold rating on Enerplus (ERFResearch Report) today and set a price target of C$4.50. The company’s shares closed last Monday at $3.06.

According to TipRanks.com, Cox is a 1-star analyst with an average return of -1.0% and a 47.8% success rate. Cox covers the Utilities sector, focusing on stocks such as Painted Pony Petroleum, Crescent Point Energy, and Advantage Oil & Gas.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Enerplus with a $3.66 average price target.

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Based on Enerplus’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $286 million and net profit of $2.88 million. In comparison, last year the company earned revenue of $356 million and had a net profit of $19.16 million.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ERF in relation to earlier this year.

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Enerplus Corp. engages in the exploration and production of crude oil and natural gas. It conducts operations in Willston Basin, Marcellus Shale, and Canadian Waterfloods. The company was founded in 1986 and is headquartered in Calgary, Canada.