Russell Investments Group Ltd. grew its position in Enerplus Corp (NYSE:ERF) (TSE:ERF) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 217,439 shares of the oil and natural gas company’s stock after buying an additional 14,534 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of Enerplus worth $2,668,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Enerplus by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,487,757 shares of the oil and natural gas company’s stock valued at $18,746,000 after buying an additional 5,194 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Enerplus by 53.8% in the second quarter. PNC Financial Services Group Inc. now owns 14,874 shares of the oil and natural gas company’s stock valued at $188,000 after buying an additional 5,206 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Enerplus by 3.5% in the second quarter. CIBC Asset Management Inc now owns 172,226 shares of the oil and natural gas company’s stock valued at $2,172,000 after buying an additional 5,796 shares in the last quarter. Creative Planning increased its position in shares of Enerplus by 72.2% in the second quarter. Creative Planning now owns 19,174 shares of the oil and natural gas company’s stock valued at $242,000 after buying an additional 8,040 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in Enerplus during the 2nd quarter worth about $146,000. Institutional investors and hedge funds own 51.71% of the company’s stock.
ERF has been the subject of a number of recent research reports. ValuEngine cut Enerplus from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Zacks Investment Research upgraded Enerplus from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Wednesday, October 10th. TheStreet cut Enerplus from a “c” rating to a “d+” rating in a research report on Thursday, August 16th. Finally, SunTrust Banks set a $15.00 price objective on Enerplus and gave the stock a “buy” rating in a research report on Tuesday, November 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $15.00.
Enerplus (NYSE:ERF) (TSE:ERF) last posted its quarterly earnings data on Friday, November 9th. The oil and natural gas company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $244.50 million for the quarter, compared to analysts’ expectations of $264.36 million. Enerplus had a return on equity of 12.80% and a net margin of 13.12%. As a group, sell-side analysts forecast that Enerplus Corp will post 0.61 earnings per share for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Friday, December 14th. Investors of record on Thursday, November 29th will be given a dividend of $0.0076 per share. This represents a $0.09 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Wednesday, November 28th. Enerplus’s dividend payout ratio is presently 11.25%.
Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. Its crude oil properties are located in the Fort Berthold region of North Dakota and the Elm Coulee field in Richland County, Montana; and crude oil Waterfloods in Alberta and Saskatchewan, Canada.
See Also: Liquidity
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