Enerplus Corp (USA) (ERF) is Upgraded by Macquarie to Outperform

Enerplus Corp (USA) (ERF) was Upgraded by Macquarie to ” Outperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Macquarie advised their investors in a research report released on Jun 6, 2016.

Many Wall Street Analysts have commented on Enerplus Corp (USA). Enerplus Corp (USA) was Upgraded by Barclays to ” Overweight” on Apr 18, 2016.

On the company’s financial health, Enerplus Corp (USA) reported $-0.84 EPS for the quarter, missing the analyst consensus estimate by $ -0.68 based on the information available during the earnings call on May 6, 2016. Analyst had a consensus of $-0.16. The company had revenue of $156.10 million for the quarter, compared to analysts expectations of $186.73 million. The company’s revenue was down -38.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-1.42 EPS.

Enerplus Corp (USA) opened for trading at $5.87 and hit $6.01 on the upside on Friday, eventually ending the session at $5.97, with a gain of 3.11% or 0.18 points. The heightened volatility saw the trading volume jump to 14,79,931 shares. Company has a market cap of $1,237 M.

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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