Enerplus Corporation (NYSE:ERF) Forecasted to Post Q3 2017 Earnings of $0.12 Per Share
Enerplus Corporation (NYSE:ERF) (TSE:ERF) – Analysts at Capital One Financial Corporation boosted their Q3 2017 earnings per share (EPS) estimates for shares of Enerplus Corporation in a research report issued on Monday. Capital One Financial Corporation analyst B. Velie now forecasts that the oil and natural gas company will post earnings of $0.12 per share for the quarter, up from their previous estimate of $0.11. Capital One Financial Corporation has a “Overweight” rating and a $13.00 price objective on the stock. Capital One Financial Corporation also issued estimates for Enerplus Corporation’s Q4 2017 earnings at $0.13 EPS and FY2018 earnings at $0.60 EPS.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Enerplus Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Canaccord Genuity reiterated a “buy” rating and set a $16.00 price target on shares of Enerplus Corporation in a research report on Monday, May 8th. ValuEngine upgraded shares of Enerplus Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, BidaskClub upgraded shares of Enerplus Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Enerplus Corporation currently has an average rating of “Buy” and an average target price of $13.40.
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Shares of Enerplus Corporation (NYSE ERF) opened at 8.94 on Tuesday. Enerplus Corporation has a one year low of $5.61 and a one year high of $10.33. The company has a market capitalization of $2.16 billion, a PE ratio of 4.18 and a beta of 1.40. The company’s 50-day moving average is $8.54 and its 200-day moving average is $8.28.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last issued its earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.16. The firm had revenue of $191.57 million during the quarter, compared to analysts’ expectations of $257.94 million. Enerplus Corporation had a net margin of 78.95% and a return on equity of 0.14%. During the same period last year, the firm posted ($0.77) earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. boosted its position in 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 period. Bank of Montreal Can boosted its position in Enerplus Corporation by 155.4% in the first quarter. Bank of Montreal Can now owns 2,300,030 shares of the oil and natural gas company’s stock valued at $18,516,000 after buying an additional 1,399,475 shares during the period. Fox Run Management L.L.C. bought a new position in Enerplus Corporation during the first quarter valued at $158,000. Shell Asset Management Co. boosted its position in 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 period. Finally, K.J. Harrison & Partners Inc boosted its position in Enerplus Corporation by 29.7% in the first quarter. K.J. Harrison & Partners Inc now owns 374,301 shares of the oil and natural gas company’s stock valued at $3,009,000 after buying an additional 85,688 shares during the period. Institutional investors own 49.32% of the company’s stock.
The business also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be issued a $0.0079 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, July 27th. Enerplus Corporation’s dividend payout ratio (DPR) is presently 3.14%.
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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