Enerplus Corp (NYSE:ERF)
June 12th, 2019
Amidst falling markets Enerplus Corp fell ($0.19) Wednesday, down 2.77%, closing at $6.66. Sadly, in addition to dropping ERF ended up closing the day at a new 52 week low.As well as the drop in value, Enerplus Corp hit a new 52 week low of $6.66, breaking the previous low of $6.81 from earlier this month. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 1.22.
ERF was outperformed by the rest of the Energy sector which went down just -1.44%.
Analysis results from 2 analysts suggest that Enerplus Corp might go up significantly (78.70%), while Finbox has calculated (with medium uncertainty) a fair value price of $9.14.
The market sectors were mixed Wednesday with a majority of the sectors trending up. Utilities saw the biggest increase of the day (1.33%), while the Energy sector saw the biggest drop (-1.44%). Information Technology has seen the biggest year-to-date gain of 23.77%.
Energy and Financials saw turn-arounds from their five day positive performances with Energy dropping -1.44%.
- Utilities, up 1.33%.
- Healthcare, up 0.51%.
- Materials, up 0.31%.
- Real Estate, up 0.26%.
- Industrials, up 0.20%.
- Consumer Staples, up 0.04%.
- Consumer Discretionary, down -0.11%.
- Communication Services, down -0.28%.
- Information Technology, down -0.58%.
- Financials, down -0.95%.
- Energy, down -1.44%.
Enerplus Corp Info
Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company’s oil and natural gas properties are located primarily in North Dakota, Montana, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan. As of December 31, 2018, it had proved plus probable gross reserves of approximately 12.7 million barrels (MMbbls) of light and medium crude oil; 28.4 MMbbls of heavy crude oil; 167.2 MMbbls of tight oil; 21.1 MMbbls of natural gas liquids; 41.1 billion cubic feet (Bcf) of conventional natural gas; and 1,149.5 Bcf of shale gas. The company was founded in 1986 and is headquartered in Calgary, Canada.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Enerplus Corp’s score is 1.22) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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