Several other equities research analysts have also commented on ERF. Credit Suisse Group AG restated a buy rating and issued a $11.00 price objective on shares of Enerplus Corp. in a research report on Wednesday, June 22nd. Canaccord Genuity started coverage on Enerplus Corp. in a research note on Wednesday, August 17th. They set a buy rating for the company. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Enerplus Corp. currently has a consensus rating of Buy and an average price target of $8.88.
Enerplus Corp. (NYSE:ERF) opened at 7.40 on Thursday. The firm’s 50-day moving average is $6.70 and its 200 day moving average is $5.96. The stock’s market capitalization is $1.78 billion. Enerplus Corp. has a 1-year low of $1.84 and a 1-year high of $7.82.
Enerplus Corp. (NYSE:ERF) last released its quarterly earnings data on Friday, August 5th. The company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.67. Enerplus Corp. had a negative return on equity of 60.19% and a negative net margin of 155.95%. The company earned $152.40 million during the quarter, compared to analysts’ expectations of $158.40 million. During the same quarter in the prior year, the company posted ($1.52) EPS. Equities analysts anticipate that Enerplus Corp. will post ($0.87) EPS for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 29th will be paid a $0.0076 dividend. This represents a $0.09 annualized dividend and a yield of 1.23%. The ex-dividend date is Tuesday, September 27th. Enerplus Corp.’s dividend payout ratio is currently -1.97%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Letko Brosseau & Associates Inc. increased its position in Enerplus Corp. by 11,800.6% in the second quarter. Letko Brosseau & Associates Inc. now owns 8,330,400 shares of the company’s stock valued at $54,494,000 after buying an additional 8,260,400 shares in the last quarter. TD Asset Management Inc. increased its position in Enerplus Corp. by 0.7% in the second quarter. TD Asset Management Inc. now owns 5,193,931 shares of the company’s stock valued at $34,035,000 after buying an additional 35,270 shares in the last quarter. Vanguard Group Inc. increased its position in Enerplus Corp. by 33.1% in the second quarter. Vanguard Group Inc. now owns 4,136,209 shares of the company’s stock valued at $27,175,000 after buying an additional 1,028,142 shares in the last quarter. 1832 Asset Management L.P. increased its position in Enerplus Corp. by 629,639.5% in the second quarter. 1832 Asset Management L.P. now owns 3,249,456 shares of the company’s stock valued at $35,722,000 after buying an additional 3,248,940 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Enerplus Corp. by 104.5% in the first quarter. Wellington Management Group LLP now owns 2,348,067 shares of the company’s stock valued at $9,240,000 after buying an additional 1,199,760 shares in the last quarter. 43.25% of the stock is owned by hedge funds and other institutional investors.
About Enerplus Corp.
Enerplus Corporation is an energy producer. The Company’s capital program is focused on the development of its crude oil and natural gas core areas of operation, which includes its North Dakota and Montana crude oil assets in the Williston Basin, and its natural gas interests in northeast Pennsylvania.
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