Enerplus Corp. (ERF) Trading 4.2% Higher
Enerplus Corp. (NYSE:ERF) shares traded up 4.2% on Monday . The stock traded as high as $7.29 and last traded at $7.18, with a volume of 1,067,449 shares trading hands. The stock had previously closed at $6.89.
Several research analysts have weighed in on the stock. Barclays PLC upgraded shares of Enerplus Corp. from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 18th. Credit Suisse Group AG reissued a “buy” rating and issued a $11.00 target price on shares of Enerplus Corp. in a research report on Wednesday, June 22nd. National Bank Financial raised shares of Enerplus Corp. from a “sector perform” rating to an “outperform” rating in a research report on Monday, May 9th. Macquarie raised shares of Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research report on Monday, June 6th. Finally, Zacks Investment Research downgraded shares of Enerplus Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 19th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $9.00.
The stock has a 50 day moving average of $6.34 and a 200-day moving average of $4.93. The stock’s market capitalization is $1.74 billion.
Enerplus Corp. (NYSE:ERF) last released its quarterly earnings data on Friday, August 5th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.10) by $0.67. During the same quarter last year, the firm earned ($1.52) earnings per share. The company had revenue of $152.40 million for the quarter, compared to analyst estimates of $158.40 million. On average, analysts anticipate that Enerplus Corp. will post ($0.96) earnings per share for the current year.
The business also recently announced a monthly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be issued a dividend of $0.0078 per share. The ex-dividend date is Wednesday, July 27th. This represents a $0.09 annualized dividend and a yield of 1.28%. This is a positive change from Enerplus Corp.’s previous monthly dividend of $0.01.
A hedge fund recently raised its stake in Enerplus Corp. stock. Morgan Stanley increased its stake in Enerplus Corp. (NYSE:ERF) by 86.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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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