Enerplus Corp. (ERF) Stock Price Up 6.4%
Enerplus Corp. (NYSE:ERF)’s share price rose 6.4% on Tuesday . The stock traded as high as $6.72 and last traded at $6.66, with a volume of 739,424 shares trading hands. The stock had previously closed at $6.26.
ERF has been the subject of several recent research reports. Zacks Investment Research cut Enerplus Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. National Bank Financial upgraded Enerplus Corp. from a “sector perform” rating to an “outperform” rating in a research report on Monday, May 9th. Macquarie upgraded Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research report on Monday, June 6th. Credit Suisse Group AG restated a “buy” rating and set a $11.00 target price on shares of Enerplus Corp. in a research report on Wednesday, June 22nd. Finally, Barclays PLC upgraded Enerplus Corp. from an “equal weight” rating to an “overweight” rating in a research report on Monday, April 18th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $10.07.
The stock’s market capitalization is $1.34 billion. The stock has a 50 day moving average of $6.13 and a 200 day moving average of $4.37.
Enerplus Corp. (NYSE:ERF) last announced its earnings results on Friday, May 6th. The company reported ($0.84) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.68. The company earned $156.10 million during the quarter, compared to the consensus estimate of $186.73 million. During the same quarter in the prior year, the company posted ($1.42) earnings per share. The business’s revenue for the quarter was down 38.9% compared to the same quarter last year. On average, equities research analysts forecast that Enerplus Corp. will post ($0.96) EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Friday, July 15th. Investors of record on Tuesday, June 28th will be issued a $0.0077 dividend. The ex-dividend date of this dividend is Friday, June 24th. This represents a $0.09 dividend on an annualized basis and a yield of 1.44%.
An institutional investor recently raised its position in Enerplus Corp. stock. Morgan Stanley increased its position in Enerplus Corp. (NYSE:ERF) by 86.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,210,157 shares of the company’s stock after buying an additional 1,955,593 shares during the period. Morgan Stanley owned 2.04% of Enerplus Corp. worth $14,397,000 as of its most recent filing with the SEC.
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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