Enerplus Corporation (ERF) Announces Monthly Dividend of $0.01
Enerplus Corporation (NYSE:ERF) (TSE:ERF) announced a monthly dividend on Monday, August 21st, Wall Street Journal reports. Investors of record on Thursday, August 31st will be given a dividend of 0.0078 per share by the oil and natural gas company on Friday, September 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Tuesday, August 29th.
Enerplus Corporation has decreased its dividend by an average of 48.9% annually over the last three years. Enerplus Corporation has a payout ratio of 10.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Enerplus Corporation to earn $0.67 per share next year, which means the company should continue to be able to cover its $0.09 annual dividend with an expected future payout ratio of 13.4%.
Enerplus Corporation (ERF) traded down 3.33% during mid-day trading on Monday, hitting $8.70. The company had a trading volume of 843,213 shares. Enerplus Corporation has a 12-month low of $5.61 and a 12-month high of $10.33. The company’s 50 day moving average price is $8.62 and its 200-day moving average price is $8.30. The firm has a market capitalization of $2.11 billion, a PE ratio of 2.90 and a beta of 1.40.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last posted its quarterly earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.16. The business had revenue of $191.57 million during the quarter, compared to the consensus estimate of $257.94 million. Enerplus Corporation had a net margin of 103.80% and a return on equity of 7.91%. During the same period in the previous year, the firm posted ($0.77) earnings per share. On average, analysts forecast that Enerplus Corporation will post $0.92 EPS for the current fiscal year.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Enerplus Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Canaccord Genuity restated a “buy” rating and issued a $16.00 price objective on shares of Enerplus Corporation in a research report on Monday, May 8th. Capital One Financial Corporation assumed coverage on shares of Enerplus Corporation in a research report on Tuesday, July 11th. They issued an “overweight” rating and a $13.00 price objective on the stock. BidaskClub upgraded shares of Enerplus Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, ValuEngine upgraded shares of Enerplus Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Enerplus Corporation currently has an average rating of “Hold” and a consensus target price of $13.40.
Enerplus Corporation Company Profile
Enerplus Corporation is an oil and natural gas company. The Company’s oil and natural gas property interests are located in the United States, primarily in North Dakota, Montana, and Pennsylvania, as well as in western Canada in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s oil and natural gas property interests contains proved plus probable gross reserves of approximately 14.3 million barrels (MMbbls) of light and medium crude oil, 39.0 MMbbls of heavy crude oil, 123 MMbbls of tight oil, 18.1 MMbbls of natural gas liquids (NGLs), 126.3 billion cubic feet (Bcf) of conventional natural gas and 1,002.8 Bcf of shale gas, for a total of approximately 382.5 million barrels of oil equivalent (MMBOE).
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