Barclays PLC Reaffirms “Buy” Rating for Enerplus Corp. (ERF)
Enerplus Corp. (NYSE:ERF)‘s stock had its “buy” rating reiterated by Barclays PLC in a research report issued to clients and investors on Thursday.
A number of other equities research analysts have also issued reports on the company. Canaccord Genuity began coverage on Enerplus Corp. in a research report on Wednesday, August 17th. They set a “buy” rating on the stock. Credit Suisse Group AG reaffirmed a “buy” rating and set a $11.00 target price on shares of Enerplus Corp. in a research report on Wednesday, June 22nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Enerplus Corp. has a consensus rating of “Buy” and an average price target of $8.88.
Enerplus Corp. (NYSE:ERF) opened at 7.44 on Thursday. The stock has a 50 day moving average price of $6.72 and a 200 day moving average price of $5.86. The firm’s market capitalization is $1.79 billion. Enerplus Corp. has a 1-year low of $1.84 and a 1-year high of $7.82.
Enerplus Corp. (NYSE:ERF) last announced its earnings results on Friday, August 5th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.67. The company had revenue of $152.40 million for the quarter, compared to analyst estimates of $158.40 million. Enerplus Corp. had a negative return on equity of 60.19% and a negative net margin of 155.95%. During the same period last year, the firm earned ($1.52) earnings per share. Analysts predict that Enerplus Corp. will post ($0.94) EPS for the current year.
The firm also recently declared a monthly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 29th will be given a dividend of $0.0076 per share. This represents a $0.09 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, September 27th. Enerplus Corp.’s payout ratio is -1.97%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. purchased a new position in shares of Enerplus Corp. during the second quarter valued at $12,034,000. Legal & General Group Plc raised its position in shares of Enerplus Corp. by 34.8% in the second quarter. Legal & General Group Plc now owns 560,475 shares of the company’s stock valued at $3,673,000 after buying an additional 144,668 shares during the last quarter. Numeric Investors LLC purchased a new position in shares of Enerplus Corp. during the second quarter valued at $392,000. Westwood Holdings Group Inc. raised its position in shares of Enerplus Corp. by 87.7% in the second quarter. Westwood Holdings Group Inc. now owns 39,600 shares of the company’s stock valued at $260,000 after buying an additional 18,500 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Enerplus Corp. during the second quarter valued at $204,000. 43.25% of the stock is currently owned by hedge funds and other institutional investors.
About Enerplus Corp.
Enerplus Corporation is an energy producer. The Company’s capital program is focused on the development of its crude oil and natural gas core areas of operation, which includes its North Dakota and Montana crude oil assets in the Williston Basin, and its natural gas interests in northeast Pennsylvania.
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