IMPACT: Neutral. AFFO was 2% behind the Street. We and the Street had modeled slightly stronger Q/Q liquids growth than the 14% number achieved. The midpoint of ERF’s tightened 2019 guidance ranges for total and liquids production were unchanged and in line with the Street, while cash G&A expense guidance came down 3%. ERF has repurchased another 4% of its shares since June 30th and has used up all of the room on the 7% NCIB, which the Board is seeking approval to expand to 10%.
08 Nov 2019
FLASH: 3Q19 sees 3% of shares repurchased; 14% Q/Q liquids growth comes up a bit shy of expectations; tightened 2019e production guidance midpoints unchanged
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FLASH: 3Q19 sees 3% of shares repurchased; 14% Q/Q liquids growth comes up a bit shy of expectations; tightened 2019e production guidance midpoints unchanged
Enerplus Corporation (ERF:TSE) | 0 0 0.6% | Mkt Cap: 3,228m
- Published:
08 Nov 2019 -
Author:
Michael P. Dunn -
Pages:
3
IMPACT: Neutral. AFFO was 2% behind the Street. We and the Street had modeled slightly stronger Q/Q liquids growth than the 14% number achieved. The midpoint of ERF’s tightened 2019 guidance ranges for total and liquids production were unchanged and in line with the Street, while cash G&A expense guidance came down 3%. ERF has repurchased another 4% of its shares since June 30th and has used up all of the room on the 7% NCIB, which the Board is seeking approval to expand to 10%.