Enerplus Corp (NYSE:ERF) Given Average Rating of “Hold” by Brokerages

Enerplus Corp (NYSE:ERF) (TSE:ERF) has been given an average recommendation of “Hold” by the eleven brokerages that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $17.10.

A number of analysts have recently weighed in on ERF shares. Royal Bank of Canada reaffirmed a “buy” rating on shares of Enerplus in a research report on Friday, August 9th. Zacks Investment Research lowered Enerplus from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Desjardins reaffirmed a “buy” rating on shares of Enerplus in a research report on Monday, August 12th. GMP Securities reaffirmed an “average” rating and set a $16.00 price objective on shares of Enerplus in a research report on Friday, June 28th. Finally, Raymond James reaffirmed an “average” rating and set a $21.50 price objective on shares of Enerplus in a research report on Monday, May 13th.

NYSE:ERF traded up $0.33 during trading hours on Friday, reaching $6.50. 1,059,100 shares of the stock were exchanged, compared to its average volume of 1,372,830. Enerplus has a twelve month low of $5.50 and a twelve month high of $12.92. The business has a 50-day moving average of $6.74 and a two-hundred day moving average of $7.92. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 5.96 and a beta of 1.64.

Enerplus (NYSE:ERF) (TSE:ERF) last posted its quarterly earnings data on Friday, August 9th. The oil and natural gas company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Enerplus had a return on equity of 18.00% and a net margin of 35.14%. The business had revenue of $240.33 million for the quarter, compared to analyst estimates of $232.00 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. On average, research analysts forecast that Enerplus will post 0.83 EPS for the current fiscal year.

The business also recently disclosed a monthly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.008 per share. The ex-dividend date was Tuesday, July 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.48%. This is a positive change from Enerplus’s previous monthly dividend of $0.01. Enerplus’s dividend payout ratio is currently 8.26%.

A number of large investors have recently bought and sold shares of ERF. Norges Bank purchased a new position in Enerplus in the fourth quarter valued at $26,268,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Enerplus in the first quarter valued at $26,013,000. Caymus Capital Partners L.P. purchased a new position in Enerplus in the second quarter valued at $9,963,000. Toronto Dominion Bank increased its holdings in Enerplus by 415.9% in the second quarter. Toronto Dominion Bank now owns 1,377,948 shares of the oil and natural gas company’s stock valued at $11,323,000 after buying an additional 1,110,866 shares during the last quarter. Finally, Ninepoint Partners LP purchased a new position in Enerplus in the second quarter valued at $7,530,000. 60.70% of the stock is currently owned by hedge funds and other institutional investors.

About Enerplus

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company's oil and natural gas properties are located primarily in North Dakota, Montana, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.

See Also: Producer Price Index (PPI)

Analyst Recommendations for Enerplus (NYSE:ERF)

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