Enerplus Corporation (NYSE: ERF) stock jumped 0.68% on Thursday to $17.79 against a previous-day closing price of $17.67. With 0.96 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.23 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $18.00 whereas the lowest price it dropped to was $17.60. The 52-week range on ERF shows that it touched its highest point at $19.23 and its lowest point at $12.39 during that stretch. It currently has a 1-year price target of $18.33. With its current market cap of 3.75 billion, ERF has annualized dividend of $0.24 while the current yield stands at 1.35%. Beta for the stock currently stands at 2.17.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ERF was up-trending over the past week, with a rise of 2.18%, but this was up by 9.14% over a month. Three-month performance surged to 25.19% while six-month performance rose 34.47%. The stock gained 15.82% in the past year, while it has gained 0.79% so far this year. A look at the trailing 12-month EPS for ERF yields 3.64 with Next year EPS estimates of 2.66. For the next quarter, that number is 0.66. This implies an EPS growth rate of 304.80% for this year and 39.33% for next year. EPS is expected to grow by 42.26% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 31.60%.
Float and Shares Shorts:
At present, 213.79 million ERF shares are outstanding with a float of 209.90 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.24 million, which was 1.54% higher than short shares on Jul 30, 2023. In addition to Mr. Ian Charles Dundas B.Com., B.Comm., L.L.B., LLB as the firm’s Pres, CEO & Non-Independent Director, Ms. Jodine Julene-Jenson Labrie B.Com., B.Comm, C.A., CBV serves as its Sr. VP & CFO.
Through their ownership of 58.56% of ERF’s outstanding shares, institutional investors have majority control over the company. Other institutions hold — of ERF, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 3.74% stake in ERF, the Ninepoint Energy Fund is the largest stakeholder. A total of 8,000,000 shares are owned by the mutual fund manager. The British Columbia Inv Management C, which owns about 1.85% of ERF stock, is the second-largest Mutual Fund holder. It holds 3,953,871 shares valued at 66.11 million. Vanguard Total International Stoc holds 1.42% of the stake in ERF, owning 3,046,686 shares worth 50.94 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ERF reported revenue of $489.82M and operating income of $240.02M. The EBITDA in the recently reported quarter was $310.42M and diluted EPS was $0.99.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ERF since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ERF analysts setting a high price target of $24.00 and a low target of $17.16, the average target price over the next 12 months is $20.82. Based on these targets, ERF could surge 34.91% to reach the target high and fall by -3.54% to reach the target low. Reaching the average price target will result in a growth of 17.03% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.