Enerplus Corporation (ERF) Stake Increased by Royal Bank of Canada
Royal Bank of Canada grew its position in Enerplus Corporation (NYSE:ERF) (TSE:ERF) by 2.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,110,081 shares of the oil and natural gas company’s stock after buying an additional 203,904 shares during the period. Royal Bank of Canada owned 4.18% of Enerplus Corporation worth $82,094,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in ERF. Comerica Bank grew its position in shares of Enerplus Corporation by 1.3% in the 1st quarter. Comerica Bank now owns 13,775 shares of the oil and natural gas company’s stock worth $101,000 after buying an additional 180 shares during the last quarter. World Asset Management Inc lifted its position in Enerplus Corporation by 3.9% during the first quarter. World Asset Management Inc now owns 14,959 shares of the oil and natural gas company’s stock valued at $120,000 after acquiring an additional 568 shares during the last quarter. Private Capital Management Inc. purchased a new stake in Enerplus Corporation during the second quarter valued at approximately $122,000. ETRADE Capital Management LLC lifted its position in Enerplus Corporation by 5.8% during the second quarter. ETRADE Capital Management LLC now owns 15,052 shares of the oil and natural gas company’s stock valued at $122,000 after acquiring an additional 822 shares during the last quarter. Finally, Creative Planning lifted its position in Enerplus Corporation by 40.5% during the second quarter. Creative Planning now owns 17,605 shares of the oil and natural gas company’s stock valued at $143,000 after acquiring an additional 5,074 shares during the last quarter. Institutional investors and hedge funds own 50.71% of the company’s stock.
Enerplus Corporation (NYSE:ERF) traded down 1.2870% during midday trading on Tuesday, hitting $9.5258. 261,437 shares of the stock traded hands. Enerplus Corporation has a one year low of $6.26 and a one year high of $10.33. The company has a 50-day moving average price of $9.19 and a 200 day moving average price of $8.36. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 3.0444 and a beta of 1.39.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last announced its quarterly earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.16. The firm had revenue of $191.57 million during the quarter, compared to the consensus estimate of $257.94 million. Enerplus Corporation had a return on equity of 7.91% and a net margin of 103.80%. During the same period in the prior year, the company posted ($0.77) earnings per share. Equities research analysts anticipate that Enerplus Corporation will post $0.95 earnings per share for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Friday, October 13th. Shareholders of record on Thursday, September 28th will be issued a dividend of $0.008 per share. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $0.10 dividend on an annualized basis and a yield of 0.99%. Enerplus Corporation’s payout ratio is currently 3.48%.
Several research firms have issued reports on ERF. ValuEngine raised shares of Enerplus Corporation from a “hold” rating to a “buy” rating in a report on Monday. BidaskClub lowered Enerplus Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Zacks Investment Research cut Enerplus Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. Finally, Capital One Financial Corporation started coverage on Enerplus Corporation in a research report on Tuesday, July 11th. They issued an “overweight” rating and a $13.00 price objective for the company. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $13.40.
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About Enerplus Corporation
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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