Enerplus Corp. (ERF) Stock Price Up 3.2%
Enerplus Corp. (NYSE:ERF)’s share price rose 3.2% on Tuesday . The stock traded as high as $6.00 and last traded at $5.83, with a volume of 761,036 shares changing hands. The stock had previously closed at $5.65.
ERF has been the subject of several research reports. Credit Suisse Group AG restated a “buy” rating and set a $11.00 price target on shares of Enerplus Corp. in a research report on Wednesday, June 22nd. Zacks Investment Research upgraded shares of Enerplus Corp. from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a research report on Thursday, April 14th. BMO Capital Markets restated a “hold” rating on shares of Enerplus Corp. in a research report on Tuesday, April 12th. National Bank Financial upgraded shares of Enerplus Corp. from a “sector perform” rating to an “outperform” rating in a research report on Monday, May 9th. Finally, Raymond James Financial Inc. initiated coverage on shares of Enerplus Corp. in a research report on Monday, June 6th. They set an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $10.07.
The firm’s market cap is $1.21 billion. The firm has a 50-day moving average price of $6.25 and a 200 day moving average price of $4.67.
Enerplus Corp. (NYSE:ERF) last announced its earnings results on Friday, May 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.68. The firm had revenue of $156.10 million for the quarter, compared to the consensus estimate of $186.73 million. The company’s quarterly revenue was down 38.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.42) EPS. On average, equities research analysts expect that Enerplus Corp. will post ($0.68) earnings per share for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 29th will be issued a $0.0078 dividend. This is a boost from Enerplus Corp.’s previous monthly dividend of $0.01. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $0.09 annualized dividend and a yield of 1.59%.
An institutional investor recently raised its position in Enerplus Corp. stock. Morgan Stanley raised its stake in shares of Enerplus Corp. (NYSE:ERF) by 86.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 approximately 2.04% of Enerplus Corp. worth $14,397,000 as of its most recent SEC filing.
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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