Enerplus Corp (erf) Announces $0.01 Dividend
Enerplus Corp (NYSE:erf) (TSE:ERF) declared a dividend on Tuesday, May 16th. Shareholders of record on Friday, May 26th will be paid a dividend of 0.007 per share by the oil and natural gas company on Thursday, June 15th. The ex-dividend date is Wednesday, May 24th.
Enerplus Corp has decreased its dividend payment by an average of 48.9% annually over the last three years. Enerplus Corp has a payout ratio of 10.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Enerplus Corp to earn $0.62 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 14.5%.
Shares of Enerplus Corp (NYSE:ERF) traded down 1.3144% on Wednesday, reaching $7.9738. The company’s stock had a trading volume of 393,196 shares. The company’s 50 day moving average is $7.72 and its 200-day moving average is $8.37. Enerplus Corp has a 1-year low of $4.69 and a 1-year high of $10.33. The stock has a market cap of $1.92 billion, a PE ratio of 6.3134 and a beta of 1.54.
Enerplus Corp (NYSE:ERF) last issued its quarterly earnings results on Friday, May 5th. The oil and natural gas company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.21. The company had revenue of $172.11 million for the quarter, compared to analyst estimates of $233.23 million. Enerplus Corp had a negative return on equity of 81.49% and a negative net margin of 152.64%. During the same period in the previous year, the company posted ($0.84) earnings per share. On average, equities analysts predict that Enerplus Corp will post $0.50 earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in Enerplus Corp stock. Renaissance Technologies LLC bought a new position in shares of Enerplus Corp (NYSE:ERF) (TSE:ERF) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 66,057 shares of the oil and natural gas company’s stock, valued at approximately $532,000. Institutional investors own 44.96% of the company’s stock.
ERF has been the topic of a number of research reports. Zacks Investment Research lowered Enerplus Corp from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. BMO Capital Markets upgraded Enerplus Corp from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a report on Friday, February 10th. They noted that the move was a valuation call. Canaccord Genuity restated a “buy” rating and issued a $16.00 price target on shares of Enerplus Corp in a report on Monday, May 8th. Finally, TheStreet upgraded Enerplus Corp from a “d” rating to a “c-” rating in a report on Friday, March 17th. Eight equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $13.38.
About Enerplus Corp
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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