Enerplus Corp (ERF.TO) Buy, Sell or Hold

Enerplus Corp (ERF.TO)

26.78

-0.93 (3.36%)

as of Jun 3, 2024, 8:00:00 pm Market Open.

235 watching

TOP PICK

Generally in the past it has traded at a substantial premium to its peers. Now trading at less than most trusts. Did an acquisition taking them into the Marcellus in Pennsylvania, which is the most economic gas play in North America. Can easily make money at $4 gas. Great visible growth.

HOLD

One of the largest companies of its kind. Production of just under 100,000 BOE a day, which is at the upper end. An improving visibility story.

HOLD

Very well managed big trust but predominantly gas so it is hard to move the needle, particularly with weak gas prices.

DON'T BUY

When it converts to a corporation, it will probably be one of those companies where there may be a savage slashing of the income payout. Fair Market Value right now is actually lower than the price of the trust itself.

WAIT

Have a slightly higher natural gas weighting making him a bit more cautious on this. Expect there will be an opportunity this summer to get it cheaper. Well managed company.

HOLD

One of the biggest and oldest trusts and has lots of leverage it can pull. In the 1st quarter it spent 75% of its capital budget on gas drilling and he thinks gas is not the right place. 8.9% yield.

DON'T BUY

A decent company. It will be a survivor. The only negative is that it is a fairly gas weighted trust. Your best bet is to be in the oil weighted names.

BUY

Looking at this longer-term, distributions will come down along with all energy trusts’. Very competitively priced.

BUY

(Market Call Minute.) Oldest and one of the largest royalty trusts. Seems to be really starting to turn.

BUY

(Market Call Minute.) Very good balance sheet. Should be able make some very good acquisitions.

COMMENT

(Market Call Minute.) Cut the dividends by more than two thirds. Very well run. It will come back.

BUY

(Market Call Minute.) Very well run. Pretty safe yield at these levels.

COMMENT

In the current pricing environment, they are going to have difficulty sustaining their production. Well managed.

DON'T BUY

Prefers larger caps with a good source of funding and relatively low costs. Likely to see continued distribution cuts in some of the trusts’ area. Would prefer Arc Energy (AET.UN-T) although they are susceptible to distribution cuts. 11.25% yield.

BUY

(Market Call Minute.) Fantastic balance sheet. Good prospects going forward.

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