Analyst Price Target Update on Enerplus Corporation (NYSE:ERF)

Enerplus Corporation (NYSE:ERF): 6 Analyst have given the stock of Enerplus Corporation (NYSE:ERF) a near short term price target of $7.54. The standard deviation reading, which is a measure by which the stock price is expected to swing away from the mean estimate, is at $3.52. The higher price target estimate is at $13 while the lower price estimates are fixed at $4.

Many analysts have stated their opinion on the company shares. Equity Analysts at the Macquarie upgrades the rating on Enerplus Corporation (NYSE:ERF). The brokerage firm has issued a Outperform rating on the shares. The shares were previously rated Neutral. The rating by the firm was issued on June 6, 2016. Company shares have received an average consensus rating of Hold for the current week

Enerplus Corporation (NYSE:ERF) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.06 points or 1.01% at $5.9 with 1,193,201 shares getting traded. Post opening the session at $5.86, the shares hit an intraday low of $5.78 and an intraday high of $6.145 and the price was in this range throughout the day. The company has a market cap of $1,222 million and the number of outstanding shares have been calculated to be 207,133,000 shares. The 52-week high of Enerplus Corporation (NYSE:ERF) is $9.8 and the 52-week low is $1.84.

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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