Zacks Investment Research lowered shares of Enerplus Corporation (NYSE:ERF) (TSE:ERF) from a hold rating to a sell rating in a research report sent to investors on Tuesday.
According to Zacks, “Enerplus Corporation, formerly known as Enerplus Resources, is an independent oil and gas production company with resources across Western Canada and the United States. The Company’s resource plays include shallow gas/coal bed methane, tight gas, crude oil waterfloods, Bakken/Tight oil and oil sands located in British Columbia, Alberta, Saskatchewan and Manitoba. Enerplus Corporation is based in Alberta, Canada. “
Other research analysts have also issued research reports about the company. Capital One Financial Corporation assumed coverage on Enerplus Corporation in a research report on Tuesday, July 11th. They issued an overweight rating and a $13.00 price target for the company. Canaccord Genuity reiterated a buy rating and issued a $16.00 price target on shares of Enerplus Corporation in a research report on Monday, May 8th. ValuEngine upgraded Enerplus Corporation from a sell rating to a hold rating in a research report on Thursday, July 13th. Finally, BidaskClub upgraded Enerplus Corporation from a sell rating to a hold rating in a research report on Friday, June 30th. Two research 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’s stock. Enerplus Corporation currently has a consensus rating of Hold and a consensus target price of $13.40.
Enerplus Corporation (ERF) traded up 2.4249% during midday trading on Tuesday, hitting $9.1363. The stock had a trading volume of 353,578 shares. The company has a market capitalization of $2.21 billion, a PE ratio of 3.0143 and a beta of 1.40. The stock’s 50-day moving average is $8.59 and its 200-day moving average is $8.29. Enerplus Corporation has a 1-year low of $5.61 and a 1-year high of $10.33.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last released its quarterly earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.16. The company had revenue of $191.57 million during the quarter, compared to analyst estimates of $257.94 million. Enerplus Corporation had a return on equity of 7.91% and a net margin of 103.80%. During the same quarter last year, the business posted ($0.77) earnings per share. Equities research analysts forecast that Enerplus Corporation will post $0.91 EPS for the current year.
The firm also recently announced a monthly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were given a dividend of $0.0079 per share. The ex-dividend date was Thursday, July 27th. This represents a $0.10 annualized dividend and a dividend yield of 1.07%. Enerplus Corporation’s dividend payout ratio (DPR) is presently 3.14%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank raised its position in shares of Enerplus Corporation by 1.3% in the first quarter. Comerica Bank now owns 13,775 shares of the oil and natural gas company’s stock valued at $101,000 after buying an additional 180 shares during the period. World Asset Management Inc raised its position in shares of Enerplus Corporation by 3.9% in the first quarter. World Asset Management Inc now owns 14,959 shares of the oil and natural gas company’s stock valued at $120,000 after buying an additional 568 shares during the period. Private Capital Management Inc. acquired a new position in shares of Enerplus Corporation during the second quarter valued at about $122,000. ETRADE Capital Management LLC raised its position in shares of Enerplus Corporation by 5.8% in the second quarter. ETRADE Capital Management LLC now owns 15,052 shares of the oil and natural gas company’s stock valued at $122,000 after buying an additional 822 shares during the period. Finally, Creative Planning raised its position in shares of Enerplus Corporation by 40.5% in the second quarter. Creative Planning now owns 17,605 shares of the oil and natural gas company’s stock valued at $143,000 after buying an additional 5,074 shares during the period. Institutional investors and hedge funds own 49.32% 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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