Enerplus Corporation (ERF) Upgraded by ValuEngine to “Buy”
ValuEngine upgraded shares of Enerplus Corporation (NYSE:ERF) (TSE:ERF) from a hold rating to a buy rating in a research report released on Monday morning.
A number of other research firms also recently weighed in on ERF. BidaskClub downgraded shares of Enerplus Corporation from a hold rating to a sell rating in a research report on Thursday, August 17th. Zacks Investment Research downgraded Enerplus Corporation from a hold rating to a sell rating in a report on Tuesday, August 15th. Finally, Capital One Financial Corporation initiated coverage on Enerplus Corporation in a research note on Tuesday, July 11th. They issued an overweight rating and a $13.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Enerplus Corporation has an average rating of Buy and a consensus target price of $13.40.
Enerplus Corporation (ERF) traded down 0.52% during mid-day trading on Monday, hitting $9.60. The stock had a trading volume of 51,222 shares. The stock’s 50 day moving average price is $9.19 and its 200 day moving average price is $8.36. Enerplus Corporation has a one year low of $6.26 and a one year high of $10.33. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 3.07 and a beta of 1.39.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last issued its quarterly earnings data on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.16. Enerplus Corporation had a return on equity of 7.91% and a net margin of 103.80%. The company had revenue of $191.57 million during the quarter, compared to analysts’ expectations of $257.94 million. During the same quarter in the previous year, the company posted ($0.77) earnings per share. Analysts forecast that Enerplus Corporation will post $0.95 EPS for the current year.
The business also recently declared a monthly dividend, which will be paid on Friday, October 13th. Shareholders of record on Thursday, September 28th will be given a $0.008 dividend. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.99%. Enerplus Corporation’s dividend payout ratio (DPR) is presently 3.48%.
Large investors have recently bought and sold shares of the company. Cetera Investment Advisers acquired a new position in shares of Enerplus Corporation in the 2nd quarter valued at about $2,628,000. Scotia Capital Inc. raised its holdings in shares of Enerplus Corporation by 129.1% in the 2nd quarter. Scotia Capital Inc. now owns 154,269 shares of the oil and natural gas company’s stock worth $1,244,000 after acquiring an additional 86,925 shares during the last quarter. Bank of Nova Scotia lifted its position in Enerplus Corporation by 26.6% in the 2nd quarter. Bank of Nova Scotia now owns 106,946 shares of the oil and natural gas company’s stock valued at $868,000 after acquiring an additional 22,451 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in Enerplus Corporation by 372.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 110,190 shares of the oil and natural gas company’s stock valued at $895,000 after acquiring an additional 86,859 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Enerplus Corporation by 2.1% in the 2nd quarter. Royal Bank of Canada now owns 10,110,081 shares of the oil and natural gas company’s stock valued at $82,094,000 after acquiring an additional 203,904 shares in the last quarter. 50.71% of the stock is currently owned by institutional investors.
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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