Macquarie Upgrades Enerplus Corp (USA) to Outperform

Brokerage firm Macquarie Upgrades its rating on Enerplus Corp (USA)(NYSE:ERF). The shares have been rated Outperform. Previously, the analysts had a Neutral rating on the shares. The rating by Macquarie was issued on Jun 6, 2016.

Enerplus Corp (USA) (ERF) shares turned negative on Fridays trading session with the shares closing down -0.38 points or -5.99% at a volume of 15,52,475. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $6.285. The peak price level was also seen at $6.285 while the days lowest was $5.9. Finally the shares closed at $5.96. The 52-week high of the shares is $10.5 while the 52-week low is $1.84. According to the latest information available, the market cap of the company is $1,235 M.

Enerplus Corp (USA)(ERF) last announced its earnings results on May 6, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $121.78M. Analysts had an estimated revenue of $197.31M. Earnings per share were $-0.66. Analysts had estimated an EPS of $-0.28.

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.

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