5 Undervalued and Cheap Energy Stocks to Buy Now

3. Enerplus Corporation (NYSE:ERF)

Number of Hedge Fund Holders: 25

P/E Ratio as of September 13: 7.15

Share Price as of September 13: $15.60

Enerplus Corporation (NYSE:ERF) is a Canadian company engaged in the exploration and development of crude oil and natural gas in the United States and Canada. The firm’s properties are located primarily in North Dakota, Colorado, Pennsylvania, Alberta, British Columbia, and Saskatchewan. With shares worth $15.60 as of September 13, and a price to earnings ratio of 7.15, Enerplus Corporation (NYSE:ERF) is one of the top undervalued and cheap energy stocks to buy now. 

On August 4, Enerplus Corporation (NYSE:ERF) declared a $0.05 per share quarterly dividend, a 16.3% increase from its prior dividend of $0.04. The dividend is payable on September 15, to shareholders of record on August 31. 

Stifel analyst Cody Kwong raised the price target on Enerplus Corporation (NYSE:ERF) on August 8 to C$32 from C$30 and maintained a Buy rating on the shares.

According to Insider Monkey’s data, Enerplus Corporation (NYSE:ERF) was part of 25 hedge fund portfolios at the end of Q2 2022, up from 22 funds in the last quarter. Phill Gross and Robert Atchinson’s Adage Capital Management is the largest stakeholder of the company, with 7.8 million shares worth $103.7 million.