11:29 AM EDT, 05/03/2024 (MT Newswires) -- Enerplus ( ERF ) maintained its sector perform rating and US$22 price target ahead of the release of the company's first-quarter results on Wednesday, May 8, after market close, RBC Capital Markets said Thursday. In summary, RBC is in-line with IBES Street consensus on FFO/share and total equivalent production, however slightly above on capital spending

RBC expects Enerplus ( ERF ) to book funds from operations of US$0.85, compared to the Street estimate of US$0.86.

RBC outlined Enerplus' ( ERF ) estimated production at 87,833 barrels of oil equivalent per day (boe/d), compared to the Street forecast of 88,400 boe/d.

Gross capex was projected at US$155 million by RBC, while the Street forecast was pegged at US$150 million.

Given Enerplus' ( ERF ) planned US$11 billion merger with Chord Energy, RBC noted there will be no conference call following Enerplus' ( ERF ) first-quarter results.

Enerplus' ( ERF ) share price unchanged in Toronto at $26.63 at last look.

Price: 26.60, Change: -0.03, Percent Change: -0.11