National Bank Financial Lowers Enerplus (ERF) Price Target to C$24.00
Enerplus (TSE:ERF) (NYSE:ERF) had its price target cut by National Bank Financial from C$25.00 to C$24.00 in a research report released on Monday. They currently have an outperform rating on the oil and natural gas company’s stock.
Several other research analysts have also commented on the company. BMO Capital Markets boosted their price objective on Enerplus from C$19.00 to C$20.00 and gave the stock an outperform rating in a report on Monday. CIBC cut their price objective on Enerplus to C$22.00 in a report on Friday, July 20th. CSFB boosted their price objective on Enerplus from C$20.00 to C$23.00 in a report on Wednesday, July 11th. Canaccord Genuity boosted their price objective on Enerplus from C$18.00 to C$21.00 in a report on Tuesday, July 10th. Finally, Raymond James boosted their price objective on Enerplus from C$20.00 to C$23.50 in a report on Thursday, July 5th. Six research analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and a consensus target price of C$20.46.
Shares of TSE ERF opened at C$16.53 on Monday. Enerplus has a 12 month low of C$10.55 and a 12 month high of C$18.04.
In related news, insider Raymond John Daniels sold 29,252 shares of the business’s stock in a transaction that occurred on Wednesday, July 11th. The stock was sold at an average price of C$17.40, for a total value of C$508,984.80. Also, insider Nathan Douglas Fisher sold 4,050 shares of the business’s stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of C$16.95, for a total value of C$68,647.50. Insiders sold a total of 55,593 shares of company stock valued at $941,421 in the last 90 days.
Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. Its crude oil properties are located in the Fort Berthold region of North Dakota and the Elm Coulee field in Richland County, Montana; and crude oil Waterfloods in Alberta and Saskatchewan, Canada.
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