Enerplus Corporation (ERF) Shares Up -0.5%
Enerplus Corporation (NYSE:ERF) (TSE:ERF)’s share price shot up 0.5% on Tuesday . The stock traded as high as $10.18 and last traded at $10.01. 722,824 shares traded hands during trading, a decline of 26% from the average session volume of 981,558 shares. The stock had previously closed at $10.06.
Several research firms recently weighed in on ERF. CIBC began coverage on Enerplus Corporation in a research report on Wednesday, October 18th. They set a “sector outperform” rating on the stock. Zacks Investment Research downgraded Enerplus Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Scotiabank reiterated a “buy” rating and set a $16.00 target price on shares of Enerplus Corporation in a research report on Tuesday, October 10th. ValuEngine upgraded Enerplus Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, BidaskClub downgraded Enerplus Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $14.80.
The firm has a market capitalization of $2,430.00, a price-to-earnings ratio of 35.37 and a beta of 1.40. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.41.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last released its quarterly earnings data on Friday, August 11th. The oil and natural gas company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.16. The company had revenue of $191.57 million for 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 last year, the business posted ($0.77) EPS. analysts expect that Enerplus Corporation will post 0.96 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 30th will be issued a $0.008 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.97%. This is an increase from Enerplus Corporation’s previous monthly dividend of $0.01. The ex-dividend date is Friday, October 27th. Enerplus Corporation’s dividend payout ratio (DPR) is 3.48%.
Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can grew its stake in shares of Enerplus Corporation by 23.1% in the second quarter. Bank of Montreal Can now owns 2,830,308 shares of the oil and natural gas company’s stock valued at $22,983,000 after buying an additional 530,278 shares in the last quarter. Sentry Investments Corp. acquired a new stake in shares of Enerplus Corporation in the second quarter valued at about $2,885,000. Systematic Financial Management LP acquired a new stake in shares of Enerplus Corporation in the second quarter valued at about $1,683,000. Cetera Investment Advisers acquired a new stake in shares of Enerplus Corporation in the second quarter valued at about $2,628,000. Finally, Intact Investment Management Inc. grew its stake in shares of Enerplus Corporation by 1,293.4% in the second quarter. Intact Investment Management Inc. now owns 1,248,450 shares of the oil and natural gas company’s stock valued at $13,050,000 after buying an additional 1,158,850 shares in the last quarter. Institutional investors and hedge funds own 51.25% of the company’s stock.
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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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