Analysts Anticipate Enerplus Corporation (ERF) to Post $0.08 EPS
Analysts forecast that Enerplus Corporation (NYSE:ERF) (TSE:ERF) will announce earnings of $0.08 per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Enerplus Corporation’s earnings. Enerplus Corporation reported earnings per share of ($0.08) in the same quarter last year, which suggests a positive year-over-year growth rate of 200%. The business is scheduled to announce its next quarterly earnings results before the market opens on Friday, August 11th.
On average, analysts expect that Enerplus Corporation will report full year earnings of $0.69 per share for the current year, with EPS estimates ranging from $0.54 to $0.84. For the next fiscal year, analysts forecast that the company will report earnings of $0.79 per share, with EPS estimates ranging from $0.56 to $1.02. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Enerplus Corporation.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last issued its earnings results on Friday, May 5th. The oil and natural gas company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 Corporation had a net margin of 78.95% and a return on equity of 0.14%. During the same quarter last year, the firm earned ($0.84) EPS.
Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Enerplus Corporation from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Tuesday, June 6th. ValuEngine upgraded Enerplus Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. BidaskClub upgraded Enerplus Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Capital One Financial Corporation assumed coverage on Enerplus Corporation in a report on Tuesday, July 11th. They set an “overweight” rating and a $13.00 price target on the stock. Finally, Canaccord Genuity restated a “buy” rating and set a $16.00 price target on shares of Enerplus Corporation in a report on Monday, May 8th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Enerplus Corporation presently has an average rating of “Buy” and an average target price of $13.40.
Shares of Enerplus Corporation (ERF) traded up 2.31% on Friday, hitting $8.85. 911,664 shares of the stock traded hands. Enerplus Corporation has a 1-year low of $5.61 and a 1-year high of $10.33. The stock has a market cap of $2.14 billion, a PE ratio of 4.15 and a beta of 1.40. The stock has a 50 day moving average of $8.34 and a 200-day moving average of $8.31.
The business also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a $0.0079 dividend. This represents a $0.10 annualized dividend and a yield of 1.07%. The ex-dividend date is Thursday, July 27th. Enerplus Corporation’s payout ratio is presently 4.79%.
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A number of hedge funds have recently made changes to their positions in ERF. Shell Asset Management Co. boosted its stake in shares of Enerplus Corporation by 11.5% in the first quarter. Shell Asset Management Co. now owns 23,200 shares of the oil and natural gas company’s stock valued at $248,000 after buying an additional 2,400 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Enerplus Corporation by 12.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 372,751 shares of the oil and natural gas company’s stock valued at $3,542,000 after buying an additional 40,643 shares during the last quarter. Bank of Montreal Can boosted 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 during the last quarter. KAMES CAPITAL plc bought a new stake in shares of Enerplus Corporation during the second quarter valued at approximately $662,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Enerplus Corporation during the first quarter valued at approximately $158,000. Institutional investors and hedge funds own 49.87% of the company’s stock.
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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