Enerplus Corporation (ERF) Receives Average Recommendation of “Hold” from Analysts
Shares of Enerplus Corporation (NYSE:ERF) (TSE:ERF) have been assigned a consensus rating of “Hold” from the eleven brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $14.50.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Enerplus Corporation from a “buy” rating to a “hold” rating in a research report on Monday, June 5th. ValuEngine raised shares of Enerplus Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. BidaskClub raised shares of Enerplus Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Capital One Financial Corporation assumed coverage on shares of Enerplus Corporation in a research report on Tuesday, July 11th. They issued an “overweight” rating and a $13.00 price objective on the stock.
Enerplus Corporation (NYSE:ERF) traded down 2.20% during midday trading on Friday, hitting $8.91. 574,222 shares of the stock were exchanged. Enerplus Corporation has a 12 month low of $5.61 and a 12 month high of $10.33. The firm’s 50 day moving average price is $8.85 and its 200 day moving average price is $8.26. The company has a market cap of $2.16 billion, a PE ratio of 2.97 and a beta of 1.38.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last issued its quarterly earnings data on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.16. Enerplus Corporation had a net margin of 103.80% and a return on equity of 7.91%. The firm had revenue of $191.57 million for the quarter, compared to the consensus estimate of $257.94 million. During the same quarter in the previous year, the firm earned ($0.77) EPS. On average, equities research analysts forecast that Enerplus Corporation will post $0.96 earnings per share for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.0078 per share. This represents a $0.09 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Tuesday, August 29th. Enerplus Corporation’s dividend payout ratio is presently 3.14%.
A number of large investors have recently added to or reduced their stakes in ERF. Shell Asset Management Co. grew its position in Enerplus Corporation by 11.5% during the 1st quarter. Shell Asset Management Co. now owns 23,200 shares of the oil and natural gas company’s stock worth $248,000 after purchasing an additional 2,400 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Enerplus Corporation by 13.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 822,600 shares of the oil and natural gas company’s stock worth $6,606,000 after purchasing an additional 95,000 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in Enerplus Corporation during the 1st quarter worth approximately $207,000. Boston Partners purchased a new stake in Enerplus Corporation during the 1st quarter worth approximately $3,258,000. Finally, Comerica Bank grew its position in Enerplus Corporation by 1.3% during the 1st quarter. Comerica Bank now owns 13,775 shares of the oil and natural gas company’s stock worth $101,000 after purchasing an additional 180 shares during the last quarter. 50.71% of the stock is currently owned by institutional investors.
Enerplus Corporation Company Profile
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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