Hillsdale Investment Management Inc. decreased its stake in shares of Enerplus Corp (NYSE:ERF) (TSE:ERF) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,111,900 shares of the oil and natural gas company’s stock after selling 14,000 shares during the period. Enerplus Corp accounts for approximately 1.8% of Hillsdale Investment Management Inc.’s holdings, making the stock its 15th largest position. Hillsdale Investment Management Inc.’s holdings in Enerplus Corp were worth $8,937,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of ERF. Letko Brosseau & Associates Inc. raised its stake in Enerplus Corp by 2.5% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 8,494,175 shares of the oil and natural gas company’s stock valued at $80,596,000 after buying an additional 204,475 shares in the last quarter. 1832 Asset Management L.P. raised its stake in Enerplus Corp by 58.1% in the third quarter. 1832 Asset Management L.P. now owns 5,135,959 shares of the oil and natural gas company’s stock valued at $32,963,000 after buying an additional 1,886,503 shares in the last quarter. Morgan Stanley raised its stake in Enerplus Corp by 26.8% in the third quarter. Morgan Stanley now owns 3,740,749 shares of the oil and natural gas company’s stock valued at $23,979,000 after buying an additional 789,906 shares in the last quarter. Norges Bank acquired a new stake in Enerplus Corp during the fourth quarter valued at about $27,761,000. Finally, Mackenzie Financial Corp raised its stake in Enerplus Corp by 193.7% in the third quarter. Mackenzie Financial Corp now owns 2,821,761 shares of the oil and natural gas company’s stock valued at $18,087,000 after buying an additional 1,861,161 shares in the last quarter. 44.96% of the stock is owned by institutional investors.
Shares of Enerplus Corp (NYSE:ERF) traded up 4.24% during midday trading on Friday, reaching $8.36. The company’s stock had a trading volume of 1,167,041 shares. The company has a market cap of $2.02 billion, a PE ratio of 4.24 and a beta of 1.54. Enerplus Corp has a 12 month low of $4.87 and a 12 month high of $10.33. The company’s 50-day moving average price is $7.73 and its 200-day moving average price is $8.37.
Enerplus Corp (NYSE:ERF) last issued its quarterly earnings data on Friday, May 5th. The oil and natural gas company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.21. The firm had revenue of $172.11 million during the quarter, compared to analyst estimates of $233.23 million. Enerplus Corp had a negative return on equity of 81.49% and a negative net margin of 152.64%. During the same quarter last year, the business posted ($0.84) earnings per share. On average, equities analysts anticipate that Enerplus Corp will post $0.54 EPS for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, May 26th will be given a dividend of $0.007 per share. The ex-dividend date is Wednesday, May 24th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.05%. Enerplus Corp’s payout ratio is -2.37%.
ERF has been the subject of several research analyst reports. Zacks Investment Research lowered Enerplus Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. BMO Capital Markets raised Enerplus Corp from a “market perform” rating to an “outperform” rating and set a $15.00 price target for the company in a research note on Friday, February 10th. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a “buy” rating and set a $16.00 price target on shares of Enerplus Corp in a research note on Monday, May 8th. Finally, TheStreet raised Enerplus Corp from a “d” rating to a “c-” rating in a research note on Friday, March 17th. Eight investment analysts have rated the stock with a buy rating, Enerplus Corp has an average rating of “Buy” and an average price target of $13.38.
About Enerplus Corp
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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