Enerplus Corp. (ERF) Shares Up 3.1%
Enerplus Corp. (NYSE:ERF) shares shot up 3.1% during trading on Wednesday . The company traded as high as $6.10 and last traded at $5.97, with a volume of 588,681 shares trading hands. The stock had previously closed at $5.79.
A number of brokerages have recently commented on ERF. Canaccord Genuity began coverage on Enerplus Corp. in a report on Wednesday, August 17th. They set a “buy” rating on the stock. Credit Suisse Group AG reaffirmed a “buy” rating and set a $11.00 target price on shares of Enerplus Corp. in a report on Wednesday, June 22nd. Raymond James Financial Inc. started coverage on Enerplus Corp. in a report on Monday, June 6th. They set an “outperform” rating on the stock. Macquarie raised Enerplus Corp. from a “neutral” rating to an “outperform” rating in a report on Monday, June 6th. Finally, Zacks Investment Research raised Enerplus Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, May 24th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $9.00.
The firm has a 50-day moving average price of $6.81 and a 200 day moving average price of $5.65. The company’s market cap is $1.47 billion.
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Enerplus Corp. (NYSE:ERF) last announced its quarterly earnings results on Friday, August 5th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.67. Enerplus Corp. had a negative net margin of 155.95% and a negative return on equity of 60.19%. The company earned $152.40 million during the quarter, compared to the consensus estimate of $158.40 million. During the same quarter last year, the company earned ($1.52) earnings per share. Equities analysts expect that Enerplus Corp. will post ($0.94) earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 29th will be given a $0.0076 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Tuesday, September 27th. Enerplus Corp.’s dividend payout ratio (DPR) is -1.97%.
Hedge funds have recently made changes to their positions in the stock. CIBC World Markets Inc. boosted its stake in shares of Enerplus Corp. by 76.7% in the second quarter. CIBC World Markets Inc. now owns 249,714 shares of the company’s stock worth $1,641,000 after buying an additional 108,356 shares during the period. Montrusco Bolton Investments Inc. acquired a new position in Enerplus Corp. during the second quarter worth approximately $147,000. Acadian Asset Management LLC raised its position in Enerplus Corp. by 2,281.3% in the second quarter. Acadian Asset Management LLC now owns 2,019,300 shares of the company’s stock worth $13,233,000 after buying an additional 1,934,500 shares in the last quarter. Nordea Investment Management AB acquired a new position in Enerplus Corp. during the second quarter worth approximately $735,000. Finally, Albert D Mason Inc. raised its position in Enerplus Corp. by 11.1% in the second quarter. Albert D Mason Inc. now owns 103,272 shares of the company’s stock worth $678,000 after buying an additional 10,315 shares in the last quarter. Hedge funds and other institutional investors own 43.25% of the company’s stock.
Enerplus Corp. Company Profile
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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