Enerplus Corp. (ERF) Hits New 1-Year High at $6.98
Enerplus Corp. (NYSE:ERF)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $6.98 and last traded at $6.80, with a volume of 326,634 shares trading hands. The stock had previously closed at $6.83.
Several equities research analysts recently weighed in on the company. Zacks Investment Research cut Enerplus Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Raymond James Financial Inc. assumed coverage on Enerplus Corp. in a research note on Monday, June 6th. They issued an “outperform” rating on the stock. Macquarie raised Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research note on Monday, June 6th. National Bank Financial raised Enerplus Corp. from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 9th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $11.00 price target on shares of Enerplus Corp. in a research note on Wednesday, June 22nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $9.00.
The company’s market cap is $1.65 billion. The company has a 50 day moving average price of $6.33 and a 200-day moving average price of $4.86.
Enerplus Corp. (NYSE:ERF) last issued its quarterly earnings results on Friday, August 5th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.67. The company earned $152.40 million during the quarter, compared to analysts’ expectations of $158.40 million. During the same period in the prior year, the company earned ($1.52) earnings per share. Equities analysts anticipate that Enerplus Corp. will post ($0.90) EPS for the current year.
The firm also recently declared a monthly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 29th will be paid a dividend of $0.0078 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.36%. This is an increase from Enerplus Corp.’s previous monthly dividend of $0.01. The ex-dividend date is Wednesday, July 27th.
A hedge fund recently raised its stake in Enerplus Corp. stock. Morgan Stanley raised its position in Enerplus Corp. (NYSE:ERF) by 86.7% during the fourth quarter, according to its most recent Form 13F 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 2.04% of Enerplus Corp. worth $14,397,000 at the end of the most recent quarter.
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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