Enerplus Corp. (ERF) Hits New 52-Week High at $7.73
Enerplus Corp. (NYSE:ERF)’s share price hit a new 52-week high on Thursday . The company traded as high as $7.73 and last traded at $7.71, with a volume of 690,242 shares. The stock had previously closed at $7.43.
ERF has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Enerplus Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Raymond James Financial Inc. began coverage on Enerplus Corp. in a research note on Monday, June 6th. They issued an “outperform” rating on the stock. Macquarie upgraded Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research note on Monday, June 6th. National Bank Financial upgraded Enerplus Corp. from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 9th. Finally, Canaccord Genuity began coverage on Enerplus Corp. in a research note on Wednesday. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Enerplus Corp. has a consensus rating of “Buy” and an average price target of $9.00.
The firm’s market cap is $1.86 billion. The stock’s 50 day moving average price is $6.45 and its 200 day moving average price is $5.00.
Enerplus Corp. (NYSE:ERF) last announced its earnings results on Friday, August 5th. The company reported ($0.77) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.67. During the same period last year, the company earned ($1.52) earnings per share. The business had revenue of $152.40 million for the quarter, compared to analyst estimates of $158.40 million. Equities analysts forecast that Enerplus Corp. will post ($0.96) earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 29th were paid a dividend of $0.0078 per share. This is a boost from Enerplus Corp.’s previous monthly dividend of $0.01. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Wednesday, July 27th.
A hedge fund recently raised its stake in Enerplus Corp. stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Enerplus Corp. (NYSE:ERF) by 105.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,360,400 shares of the company’s stock after buying an additional 1,208,750 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 1.14% of Enerplus Corp. worth $8,071,000 at the end of the most recent reporting period.
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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