Home / Market Movers / Enerplus Corporation (ERF:CA) Pacing TSX Composite Energy Stocks with Gain of 2.12% at Noon on September 22

Enerplus Corporation (ERF:CA) Pacing TSX Composite Energy Stocks with Gain of 2.12% at Noon on September 22

Enerplus Corporation (ERF:CA) is one of the better performing stocks in energy sector of the S&P/TSX Composite Index on September 22, rising 2.12% to $8.19 at the lunch break after closing the day prior at $8.02. So far in the day, shares of ERF:CA traded as high as $8.29 and as low as $8.12. Today’s advance comes with about 526,597 shares changing hands, compared to an average 30-day volume of 1.12 million for Enerplus Corporation. The price is currently below the 30-day volume weighted average price of $8.21 for ERF:CA.

The share appreciation gives the company a market capitalization of $1.93 billion based upon 240.48 million shares outstanding. It also means that Enerplus Corpora has a price-to-book ratio of 2.74:1 and a price-to-earnings ratio of :1.

In the past 52 weeks, shares of ERF:CA have traded as low as $2.68 and as high as $10.06. Technical traders will take note that at $8.19, shares of ERF:CA are trading above their 200-day MA at $6.34 and below their 50-day MA at $8.66. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is Enerplus Corpora?

Enerplus Corp is a crude oil and natural gas exploration and development company. Its oil and natural gas property interests are located in western Canada in the provinces of Alberta, British Columbia and Saskatchewan and in the United States. The company’s 588 employees are led by CEO Ian C. Dundas from the corporate headquarters at 3000, 333 – 7th Avenue S.W..

What is the S&P/TSX Composite Index?

Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.


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