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Enerplus TSX:ERF Stock Report

Last Price


Market Cap







06 Aug, 2022


Company Financials +
ERF fundamental analysis
Snowflake Score
Future Growth1/6
Past Performance4/6
Financial Health2/6

ERF Stock Overview

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada.

Enerplus Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Enerplus
Historical stock prices
Current Share PriceCA$16.96
52 Week HighCA$23.29
52 Week LowCA$6.12
1 Month Change1.01%
3 Month Change0%
1 Year Change128.57%
3 Year Change100.00%
5 Year Change45.58%
Change since IPO-55.66%

Recent News & Updates

Aug 05
Is Enerplus (TSE:ERF) A Risky Investment?

Is Enerplus (TSE:ERF) A Risky Investment?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

Shareholder Returns

ERFCA Oil and GasCA Market

Return vs Industry: ERF exceeded the Canadian Oil and Gas industry which returned 40.1% over the past year.

Return vs Market: ERF exceeded the Canadian Market which returned -1.9% over the past year.

Price Volatility

Is ERF's price volatile compared to industry and market?
ERF volatility
ERF Average Weekly Movement9.7%
Oil and Gas Industry Average Movement11.3%
Market Average Movement10.8%
10% most volatile stocks in CA Market19.4%
10% least volatile stocks in CA Market4.4%

Stable Share Price: ERF is not significantly more volatile than the rest of Canadian stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: ERF's weekly volatility (10%) has been stable over the past year.

About the Company

1986435Ian Dundas

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, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan. As of December 31, 2021, it had proved plus probable gross reserves of approximately 8.2 million barrels (MMbbls) of light and medium crude oil; 20.7 MMbbls of heavy crude oil; 299.3 MMbbls of tight oil; 56.2 MMbbls of natural gas liquids; 19.7 billion cubic feet (Bcf) of conventional natural gas; and 1,367.9 Bcf of shale gas.

Enerplus Fundamentals Summary

How do Enerplus's earnings and revenue compare to its market cap?
ERF fundamental statistics
Market CapUS$3.05b
Earnings (TTM)US$552.67m
Revenue (TTM)US$1.92b


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ERF income statement (TTM)
Cost of RevenueUS$522.68m
Gross ProfitUS$1.40b
Other ExpensesUS$848.35m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date


Earnings per share (EPS)2.38
Gross Margin72.83%
Net Profit Margin28.73%
Debt/Equity Ratio78.2%

How did ERF perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


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

Valuation Score


Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

ERF key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.9x
Enterprise Value/EBITDA3.4x
PEG Ration/a

Price to Earnings Ratio vs Peers

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

ERF PE Ratio vs 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.
CompanyPEEstimated GrowthMarket Cap
Peer Average8.1x
POU Paramount Resources
PSK PrairieSky Royalty
MEG MEG Energy
NVA NuVista Energy
ERF Enerplus

Price-To-Earnings vs Peers: ERF is good value based on its Price-To-Earnings Ratio (5.5x) compared to the peer average (8.1x).

Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: ERF is good value based on its Price-To-Earnings Ratio (5.5x) compared to the Canadian Oil and Gas industry average (5.7x)

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 Ratio5.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ERF's Price-To-Earnings Fair Ratio for valuation analysis.

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$16.96) is trading below our estimate of fair value (CA$50.38)

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

Analyst Price Targets

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

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Future Growth

How is Enerplus forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score


Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if ERF's forecast earnings growth is above the savings rate (1.6%).

Earnings vs Market: Insufficient data to determine if ERF's earnings are forecast to grow faster than the Canadian market

High Growth Earnings: Insufficient data to determine if ERF's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ERF's revenue (7% per year) is forecast to grow faster than the Canadian market (6% per year).

High Growth Revenue: ERF's revenue (7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if ERF's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Enerplus performed over the past 5 years?

Past Performance Score


Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ERF has high quality earnings.

Growing Profit Margin: ERF became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: ERF has become profitable over the past 5 years, growing earnings by -33.1% per year.

Accelerating Growth: ERF has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: ERF has become profitable in the last year, making it difficult to compare its past year earnings growth to the Oil and Gas industry (162.2%).

Return on Equity

High ROE: ERF's Return on Equity (75.7%) is considered outstanding.

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Financial Health

How is Enerplus's financial position?

Financial Health Score


Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ERF's short term assets ($425.2M) do not cover its short term liabilities ($735.7M).

Long Term Liabilities: ERF's short term assets ($425.2M) do not cover its long term liabilities ($678.8M).

Debt to Equity History and Analysis

Debt Level: ERF's net debt to equity ratio (74.7%) is considered high.

Reducing Debt: ERF's debt to equity ratio has increased from 42.9% to 78.2% over the past 5 years.

Debt Coverage: ERF's debt is well covered by operating cash flow (159.7%).

Interest Coverage: ERF's interest payments on its debt are well covered by EBIT (29.3x coverage).

Balance Sheet

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What is Enerplus's current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: ERF's dividend (1.31%) isn’t notable compared to the bottom 25% of dividend payers in the Canadian market (1.96%).

High Dividend: ERF's dividend (1.31%) is low compared to the top 25% of dividend payers in the Canadian market (5.36%).

Stability and Growth of Payments

Stable Dividend: ERF's dividend payments have been volatile in the past 10 years.

Growing Dividend: ERF's dividend payments have fallen over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (2.8%), ERF's dividend payments are thoroughly covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (7.2%), ERF's dividend payments are thoroughly covered by cash flows.

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How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Ian Dundas (54 yo)





Mr. Ian Charles Dundas, B.Comm., LLB, has been the Chief Executive Officer and President at Enerplus Corporation since July 1, 2013. Mr. Dundas served as Chief Operating Officer at Enerplus Corporation fro...

CEO Compensation Analysis

Compensation vs Market: Ian's total compensation ($USD3.68M) is about average for companies of similar size in the Canadian market ($USD3.68M).

Compensation vs Earnings: Ian's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: ERF's management team is seasoned and experienced (5.2 years average tenure).

Board Members

Experienced Board: ERF's board of directors are considered experienced (8.5 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: ERF insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Enerplus Corporation's employee growth, exchange listings and data sources

Key Information

  • Name: Enerplus Corporation
  • Ticker: ERF
  • Exchange: TSX
  • Founded: 1986
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Implied Market Cap: CA$3.943b
  • Shares outstanding: 232.50m
  • Website:

Number of Employees


  • Enerplus Corporation
  • The Dome Tower
  • Suite 3000
  • Calgary
  • Alberta
  • T2P 2Z1
  • Canada


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/06 00:00
End of Day Share Price2022/08/05 00:00
Annual Earnings2021/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.