Price Action Don’t Lie: What’s Next for Enerplus Corp (USA) After Making 52-Week High?

Price Action Don't Lie: What's Next for Enerplus Corp (USA) After Making 52 Week High?

The stock of Enerplus Corp (USA) (NYSE:ERF) hit a new 52-week high and has $8.86 target or 3.00% above today’s $8.60 share price. The 8 months bullish chart indicates low risk for the $1.95B company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $8.86 price target is reached, the company will be worth $58.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 613,662 shares traded hands. Enerplus Corp (USA) (NYSE:ERF) has risen 32.55% since April 27, 2016 and is uptrending. It has outperformed by 27.33% the S&P500.

Analysts await Enerplus Corp (USA) (NYSE:ERF) to report earnings on February, 17.

Enerplus Corp (USA) (NYSE:ERF) Ratings Coverage

Out of 6 analysts covering Enerplus Corp (NYSE:ERF), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. $14.5 is the highest target while $9.50 is the lowest. The $11.60 average target is 34.88% above today’s ($8.6) stock price. Enerplus Corp has been the topic of 13 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Market Perform” rating by FirstEnergy Capital given on Monday, August 10. UBS upgraded the stock to “Buy” rating in Monday, November 9 report. Raymond James reinitiated the stock with “Outperform” rating in Monday, June 6 report. Macquarie Research downgraded the stock to “Neutral” rating in Friday, January 8 report. As per Monday, June 6, the company rating was upgraded by Macquarie Research. The firm has “Buy” rating by Canaccord Genuity given on Wednesday, August 17. The stock of Enerplus Corp (USA) (NYSE:ERF) earned “Outperform” rating by Raymond James on Friday, December 18. RBC Capital Markets maintained Enerplus Corp (USA) (NYSE:ERF) on Monday, November 9 with “Outperform” rating.

According to Zacks Investment Research, “Enerplus Corporation, formerly known as Enerplus Resources, is an independent oil and gas production company with resources across Western Canada and the United States. The Company’s resource plays include shallow gas/coal bed methane, tight gas, crude oil waterfloods, Bakken/Tight oil and oil sands located in British Columbia, Alberta, Saskatchewan and Manitoba. Enerplus Corporation is based in Alberta, Canada.”

More news for Enerplus Corp (USA) (NYSE:ERF) were recently published by: Fool.ca, which released: “Energy Investors: Encana Corporation or Enerplus Corp.?” on May 05, 2016. Fool.ca‘s article titled: “Should Enerplus Corp. Be Your Top Energy Pick?” and published on October 08, 2015 is yet another important article.

ERF Company Profile

Enerplus Corporation, incorporated on August 12, 2010, is an energy producer. The Company’s capital program is focused on the development of its natural gas and crude oil 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.

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