Enerplus Corporation’s (NYSE: ERF) Stock Prices May Increase Drastically In The Near Future.

In the last trading session, 4.1 million shares of the Enerplus Corporation (NYSE:ERF) were traded, and its beta was 1.98. Most recently the company’s share price was $19.62, and it changed around -$0.04 or -0.20% from the last close, which brings the market valuation of the company to $3.99B. ERF currently trades at a discount to its 52-week high of $19.78, offering almost -0.82% off that amount. The share price’s 52-week low was $13.46, which indicates that the current value has risen by an impressive 31.4% since then. We note from Enerplus Corporation’s average daily trading volume that its 10-day average is 2.73 million shares, with the 3-month average coming to 3.16 million.

Enerplus Corporation stock received a consensus recommendation rating of Buy, based on a mean score of 2.70. If we narrow it down even further, the data shows that 0 out of 8 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended ERF as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Enerplus Corporation is expected to report earnings per share of $0.34 for the current quarter.

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Enerplus Corporation (NYSE:ERF) trade information

Instantly ERF has showed a red trend with a performance of -0.20% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 27.90% year-to-date, but still up 4.81% over the last five days. On the other hand, Enerplus Corporation (NYSE:ERF) is 10.66% up in the 30-day period. We can see from the shorts that 2.87 million shares have been sold at a short interest cover period of 0.57 day(s).

The consensus price target as assigned by Wall Street analysts is $39, which translates to bulls needing to increase their stock price by 49.69% from its current value. Analyst projections state that ERF is forecast to be at a low of $39 and a high of $39.

Enerplus Corporation (ERF) estimates and forecasts

Enerplus Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 10.54 percent over the past six months and at a -16.44% annual growth rate that is well below the industry average of -5.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -45.20% in revenue this quarter, and will report an increase of 17.60% in the next quarter. The year-over-year growth rate is expected to be -2.10%, down from the previous year.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 11.85%. Enerplus Corporation earnings are expected to increase by -9.30% in 2024, but the outlook is positive 42.26% per year for the next five years.

ERF Dividends

Enerplus Corporation’s next quarterly earnings report is expected to be released around May 02 and May 06. The annual dividend yield of the stock is 1.22 percent and its annual dividend per share was 0.24. It is important to note, however, that the 1.22% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Enerplus Corporation (NYSE:ERF)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.29% of Enerplus Corporation shares, and 62.88% of them are in the hands of institutional investors. The stock currently has a share float of 63.07%. Enerplus Corporation stock is held by 298 institutions, with Royal Bank of Canada being the largest institutional investor. By Jun 29, 2023, it held 5.13% of the shares, which is about 10.7 million shares worth $154.76 million.

KGH Ltd, with 3.97% or 8.27 million shares worth $119.72 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard International Stock Index-Total Intl Stock Indx and Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund were the top two Mutual Funds as of Jul 30, 2023. The former held 3.05 million shares worth $50.94 million, making up 1.46% of all outstanding shares. On the other hand, Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund held roughly 1.73 million shares worth around $24.96 million, which represents about 0.83% of the total shares outstanding.