Enerplus Corporation (ERF) Shares are Up 6.16%

Enerplus Corporation (ERF) : Traders are bullish on Enerplus Corporation (ERF) as it has outperformed the S&P 500 by a wide margin of 5.57% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.11%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.16% in the last 1 week, and is up 6.66% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 9.73% and the 50-Day Moving Average is 9.86%. Enerplus Corporation (NYSE:ERF): stock turned positive on Friday. Though the stock opened at $6.91, the bulls momentum made the stock top out at $6.98 level for the day. The stock recorded a low of $6.78 and closed the trading day at $6.89, in the green by 0.88%. The total traded volume for the day was 650,309. The stock had closed at $6.83 in the previous days trading.


Institutional Investors own 32.81% of Enerplus Corporation shares. Also, Macquarie upgrades its view on Enerplus Corporation (NYSE:ERF) according to the research report released by the firm to its investors. The shares have now been rated Outperform by the stock experts at the ratings house. Earlier, the shares had a rating of Neutral. The rating by the firm was issued on June 6, 2016.

Enerplus Corporation is a Canada-based energy producer. The Companys 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 Companys 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 Companys 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.

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