Enerplus Corp. (ERF) Issues Earnings Results
Enerplus Corp. (NYSE:ERF) (TSE:ERF) announced its quarterly earnings data on Monday. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.43. Enerplus Corp. had a negative net margin of 155.95% and a negative return on equity of 60.19%. The company had revenue of $188.30 million for the quarter, compared to analysts’ expectations of $173.16 million. During the same period last year, the business earned ($1.42) earnings per share.
Shares of Enerplus Corp. (NYSE:ERF) opened at 7.26 on Wednesday. The company has a 50-day moving average price of $6.95 and a 200-day moving average price of $6.40. The company’s market capitalization is $1.75 billion. Enerplus Corp. has a 12 month low of $1.84 and a 12 month high of $7.82.
The business also recently declared a monthly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, October 31st were given a $0.0076 dividend. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $0.09 dividend on an annualized basis and a yield of 1.26%. Enerplus Corp.’s dividend payout ratio is presently -1.97%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Heathbridge Capital Management Ltd. increased its position in shares of Enerplus Corp. by 0.3% in the third quarter. Heathbridge Capital Management Ltd. now owns 23,414 shares of the company’s stock worth $150,000 after buying an additional 78 shares during the last quarter. San Francisco Sentry Investment Group CA increased its position in shares of Enerplus Corp. by 1.6% in the second quarter. San Francisco Sentry Investment Group CA now owns 17,016 shares of the company’s stock worth $112,000 after buying an additional 262 shares during the last quarter. Shell Asset Management Co. increased its position in shares of Enerplus Corp. by 4.0% in the second quarter. Shell Asset Management Co. now owns 15,500 shares of the company’s stock worth $132,000 after buying an additional 600 shares during the last quarter. Bank of Nova Scotia increased its position in shares of Enerplus Corp. by 0.4% in the second quarter. Bank of Nova Scotia now owns 157,110 shares of the company’s stock worth $1,035,000 after buying an additional 635 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Enerplus Corp. by 1.2% in the second quarter. US Bancorp DE now owns 87,100 shares of the company’s stock worth $572,000 after buying an additional 1,000 shares during the last quarter. 44.45% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on ERF shares. Barclays PLC reaffirmed a “buy” rating on shares of Enerplus Corp. in a report on Thursday, October 6th. Canaccord Genuity assumed coverage on shares of Enerplus Corp. in a report on Wednesday, August 17th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $7.50.
Enerplus Corp. Company Profile
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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