Michael Fitzsimmons
Oil & gas, dividend investing, research analyst

Enerplus: What Statoil's Q1 Results Infer For Enerplus's Q1

Enerplus (NYSE:ERF) is a Canadian oil and gas producer that throws off a nice monthly dividend: the current yield is 4.5%. While ERF is headquartered in Canada, like Norway's Statoil (NYSE:STO) the company has significant operations in the Marcellus and Bakken shale plays in the US. Statoil reported robust Q1 earnings yesterday that were double expectations - in part due to a doubling of realized natural gas prices in North America. This bodes very well for Enerplus' Q1 report which is due out on May 9th. Considering Enerplus has already breached my 2014 $22 price target, and expectations of a very strong Q1 report, I am raising my 2014 price target to $25/share. If the dividend...

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