Enerplus Corp. (ERF) Sets New 52-Week High After Dividend Announcement
Enerplus Corp. (NYSE:ERF) (TSE:ERF)’s share price reached a new 52-week high during trading on Monday following a dividend announcement from the company. The company traded as high as $7.94 and last traded at $7.95, with a volume of 905,487 shares traded. The stock had previously closed at $7.44.
The newly announced dividend which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.007 per share. The ex-dividend date is Monday, November 28th. This represents a $0.08 dividend on an annualized basis and a yield of 1.05%. Enerplus Corp.’s payout ratio is -2.37%.
ERF has been the subject of a number of recent research reports. Barclays PLC reaffirmed a “buy” rating on shares of Enerplus Corp. in a research report on Thursday, October 6th. Canaccord Genuity began coverage on Enerplus Corp. in a report on Wednesday, August 17th. They issued a “buy” rating for the company. Finally, National Bank Financial reissued an “outperfrom under weight” rating on shares of Enerplus Corp. in a report on Monday, November 14th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $7.50.
The firm’s 50-day moving average is $7.14 and its 200-day moving average is $6.49. The stock’s market capitalization is $1.93 billion.
Enerplus Corp. (NYSE:ERF) last posted its earnings results on Monday, November 14th. The company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.43. The company had revenue of $188.30 million for the quarter, compared to the consensus estimate of $173.16 million. Enerplus Corp. had a negative net margin of 152.64% and a negative return on equity of 81.49%. During the same period last year, the company posted ($1.42) earnings per share. On average, analysts predict that Enerplus Corp. will post ($1.16) earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Schafer Cullen Capital Management Inc. bought a new position in Enerplus Corp. during the third quarter valued at approximately $210,000. Credit Suisse AG raised its position in Enerplus Corp. by 42.1% in the third quarter. Credit Suisse AG now owns 381,768 shares of the company’s stock valued at $2,447,000 after buying an additional 113,045 shares during the period. Mackenzie Financial Corp raised its position in Enerplus Corp. by 193.7% in the third quarter. Mackenzie Financial Corp now owns 2,821,761 shares of the company’s stock valued at $18,087,000 after buying an additional 1,861,161 shares during the period. 1832 Asset Management L.P. raised its position in Enerplus Corp. by 58.1% in the third quarter. 1832 Asset Management L.P. now owns 5,135,959 shares of the company’s stock valued at $32,963,000 after buying an additional 1,886,503 shares during the period. Finally, Jane Street Group LLC raised its position in Enerplus Corp. by 59.3% in the third quarter. Jane Street Group LLC now owns 49,374 shares of the company’s stock valued at $316,000 after buying an additional 18,386 shares during the period. 44.40% of the stock is owned by institutional investors.
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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.
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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