Enerplus Corporation (ERF) has been rated by 6 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $13 and the lowest price target forecast is $4. The average forecast of all the analysts is $7.81 and the expected standard deviation is $3.42.
Also, Canaccord Genuity initiates coverage on Enerplus Corporation (NYSE:ERF) The current rating of the shares is Buy. The rating by the firm was issued on August 17, 2016.
Enerplus Corporation (NYSE:ERF): The stock opened at $6.91 on Thursday but the bulls could not build on the opening and the stock topped out at $6.93 for the day. The stock traded down to $6.69 during the day, due to lack of any buying support eventually closed down at $6.92 with a loss of -0.57% for the day. The stock had closed at $6.96 on the previous day. The total traded volume was 743,744 shares.
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.