Enerplus Corporation (NYSE:ERF) (TSE:ERF) has received an average rating of “Buy” from the eleven brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $14.80.
Several brokerages have recently commented on ERF. CIBC began coverage on Enerplus Corporation in a report on Wednesday, October 18th. They set a “sector outperform” rating on the stock. Zacks Investment Research cut Enerplus Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Scotiabank restated a “buy” rating and set a $16.00 target price on shares of Enerplus Corporation in a report on Tuesday, October 10th. ValuEngine upgraded Enerplus Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, BidaskClub cut Enerplus Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 17th.
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Shares of Enerplus Corporation (ERF) traded up $0.18 during trading hours on Friday, reaching $9.55. The company’s stock had a trading volume of 770,517 shares, compared to its average volume of 997,909. The stock has a market cap of $2.27 billion, a P/E ratio of 34.70 and a beta of 1.37.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last announced its quarterly earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.16. Enerplus Corporation had a return on equity of 7.91% and a net margin of 103.80%. The firm had revenue of $191.57 million for the quarter, compared to analysts’ expectations of $257.94 million. During the same period in the prior year, the business posted ($0.77) earnings per share. sell-side analysts predict that Enerplus Corporation will post 0.96 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 30th will be issued a dividend of $0.008 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, October 27th. This is a boost from Enerplus Corporation’s previous monthly dividend of $0.01. Enerplus Corporation’s dividend payout ratio is presently 3.48%.
A number of institutional investors have recently bought and sold shares of ERF. Comerica Bank boosted its holdings in 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 acquiring an additional 180 shares during the last quarter. Private Capital Management Inc. bought a new position in Enerplus Corporation in the second quarter valued at about $122,000. ETRADE Capital Management LLC boosted its holdings in 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 acquiring an additional 822 shares during the last quarter. Creative Planning boosted its holdings in 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 acquiring an additional 5,074 shares during the last quarter. Finally, Pacad Investment Ltd. boosted its holdings in Enerplus Corporation by 69.0% in the second quarter. Pacad Investment Ltd. now owns 20,108 shares of the oil and natural gas company’s stock valued at $163,000 after acquiring an additional 8,208 shares during the last quarter. Institutional investors and hedge funds own 50.93% of the company’s stock.
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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