Enerplus Corporation

TSX:ERF Stock Report

Market Cap: CA$5.6b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Enerplus Valuation

Is ERF undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ERF when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ERF (CA$27.4) is trading below our estimate of fair value (CA$35.87)

Significantly Below Fair Value: ERF is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ERF?

Key metric: As ERF is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ERF. This is calculated by dividing ERF's market cap by their current earnings.
What is ERF's PE Ratio?
PE Ratio10.6x
EarningsUS$384.73m
Market CapUS$4.09b

Price to Earnings Ratio vs Peers

How does ERF's PE Ratio compare to its peers?

The above table shows the PE ratio for ERF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.1x
PSK PrairieSky Royalty
32.9x2.1%CA$7.3b
VRN Veren
10.6x11.0%CA$4.7b
WCP Whitecap Resources
7.2x-17.0%CA$6.3b
MEG MEG Energy
13.9x-1.8%CA$7.0b
ERF Enerplus
10.6x8.8%CA$5.6b

Price-To-Earnings vs Peers: ERF is good value based on its Price-To-Earnings Ratio (10.6x) compared to the peer average (21.4x).

Price to Earnings Ratio vs Industry

How does ERF's PE Ratio compare vs other companies in the CA Oil and Gas Industry?

7 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HAM Highwood Asset Management
1.2x-43.9%US$64.52m
ALPS.U Alpine Summit Energy Partners
1xn/aUS$24.02m
KUB.H Carcetti Capital
0.7xn/aUS$5.82m
GCOM Green Shift Commodities
1.4xn/aUS$4.43m
ERF 10.6xIndustry Avg. 11.4xNo. of Companies13PE0816243240+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ERF is good value based on its Price-To-Earnings Ratio (10.6x) compared to the Canadian Oil and Gas industry average (12.5x).

Price to Earnings Ratio vs Fair Ratio

What is ERF's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ERF PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.6x
Fair PE Ratio12.7x

Price-To-Earnings vs Fair Ratio: ERF is good value based on its Price-To-Earnings Ratio (10.6x) compared to the estimated Fair Price-To-Earnings Ratio (12.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ERF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
CA$26.36
0%
16.0%CA$31.98CA$20.08n/a4
Nov ’25n/a
CA$26.36
0%
16.0%CA$31.98CA$20.08n/a4
Oct ’25n/a
CA$26.36
0%
16.0%CA$31.98CA$20.08n/a4
Sep ’25n/a
CA$26.36
0%
16.0%CA$31.98CA$20.08n/a4
Aug ’25n/a
CA$26.36
0%
16.0%CA$31.98CA$20.08n/a4
Jul ’25n/a
CA$26.36
0%
16.0%CA$31.98CA$20.08n/a4
Jun ’25CA$27.71
CA$26.36
-4.9%
16.0%CA$31.98CA$20.08n/a4
May ’25CA$26.58
CA$28.55
+7.4%
8.8%CA$32.07CA$26.50n/a3
Apr ’25CA$26.62
CA$25.22
-5.3%
8.0%CA$27.19CA$21.88n/a4
Mar ’25CA$24.08
CA$25.29
+5.0%
8.1%CA$27.23CA$21.91n/a4
Feb ’25CA$18.99
CA$26.10
+37.4%
13.1%CA$32.13CA$21.96n/a5
Jan ’25CA$20.31
CA$27.62
+36.0%
8.0%CA$32.02CA$26.00n/a5
Dec ’24CA$21.51
CA$27.62
+28.4%
8.0%CA$32.02CA$26.00n/a5
Nov ’24CA$23.47
CA$27.45
+17.0%
7.9%CA$31.57CA$25.42n/a5
Oct ’24CA$23.90
CA$26.13
+9.3%
10.9%CA$31.42CA$23.31n/a5
Sep ’24CA$23.65
CA$26.10
+10.4%
10.0%CA$31.37CA$23.27n/a6
Aug ’24CA$22.19
CA$25.47
+14.8%
8.0%CA$29.37CA$23.19n/a6
Jul ’24CA$19.20
CA$24.89
+29.7%
8.7%CA$28.62CA$22.12n/a6
Jun ’24CA$18.83
CA$25.16
+33.6%
13.8%CA$30.38CA$20.35CA$27.717
May ’24CA$20.04
CA$25.11
+25.3%
13.6%CA$30.48CA$20.26CA$26.588
Apr ’24CA$19.48
CA$25.22
+29.5%
12.0%CA$30.70CA$20.46CA$26.628
Mar ’24CA$22.23
CA$25.06
+12.7%
11.9%CA$30.48CA$20.32CA$24.088
Feb ’24CA$22.67
CA$24.85
+9.6%
12.3%CA$30.26CA$19.91CA$18.998
Jan ’24CA$23.90
CA$25.85
+8.1%
15.1%CA$33.25CA$20.38CA$20.317
Dec ’23CA$24.06
CA$25.60
+6.4%
15.2%CA$32.84CA$20.13CA$21.517
Nov ’23CA$23.58
CA$25.10
+6.4%
12.3%CA$31.60CA$20.39CA$23.478

Analyst Forecast: Target price is lower than the current share price.

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