Enerplus Corp (USA) (ERF) is Upgraded by Barclays to Overweight

Enerplus Corp (USA) (ERF) was Upgraded by Barclays to ” Overweight”. Earlier the firm had a rating of “Equal Weight ” on the company shares. Barclays advised their investors in a research report released on Apr 18, 2016.

On the company’s financial health, Enerplus Corp (USA) reported $-3.03 EPS for the quarter, missing the analyst consensus estimate by $ -2.99 based on the information available during the earnings call on Feb 19, 2016. Analyst had a consensus of $-0.04.Analysts expectations of $ 251.81.During the same quarter in the previous year, the company posted $0.59 EPS.

Enerplus Corp (USA) closed down -0.24 points or -4.97% at $4.59 with 14,58,062 shares getting traded on Friday. Post opening the session at $4.64, the shares hit an intraday low of $4.5201 and an intraday high of $4.71 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Enerplus Corporation is a Canada-based energy producer. The Company’s capital program is focused on the development of its crude oil and natural gas core areas of operation which includes its North Dakota and Montana crude oil assets in the Williston Basin and its natural gas interests in northeast Pennsylvania. The Company’s oil and natural gas property interests are located in western Canada in the provinces of Alberta British Columbia and Saskatchewan and in the United States primarily in the states of Montana North Dakota Pennsylvania and West Virginia. The Company’s properties consist of approximately 42% crude oil and natural gas liquids (NGLs) and 58% natural gas properties. The Company drilled around 14 wells at Brooks; seven injection wells and seven production wells at Medicine Hat and 27.2 net horizontal wells in the Fort Berthold region. It has around 71 net producing wells in the Marcellus. Enerplus USA is a subsidiary of the Company.

Enerplus Corp (USA)

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