Enerplus Corp. (ERF) Shares Down 3.7%
Enerplus Corp. (NYSE:ERF)’s share price dropped 3.7% during mid-day trading on Monday . The company traded as low as $7.36 and last traded at $7.39, with a volume of 602,298 shares changing hands. The stock had previously closed at $7.67.
ERF has been the subject of a number of recent research reports. National Bank Financial upgraded shares of Enerplus Corp. from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 9th. Macquarie raised shares of Enerplus Corp. from a “neutral” rating to an “outperform” rating in a report on Monday, June 6th. Zacks Investment Research raised shares of Enerplus Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, May 24th. Canaccord Genuity started coverage on shares of Enerplus Corp. in a report on Wednesday, August 17th. They issued a “buy” rating on the stock. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $11.00 target price on shares of Enerplus Corp. in a report on Wednesday, June 22nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Enerplus Corp. currently has an average rating of “Buy” and a consensus target price of $9.00.
The company’s market cap is $1.78 billion. The company has a 50 day moving average price of $6.51 and a 200 day moving average price of $5.05.
Enerplus Corp. (NYSE:ERF) last released its quarterly earnings data on Friday, August 5th. The company reported ($0.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.67. The business had revenue of $152.40 million for the quarter, compared to analysts’ expectations of $158.40 million. During the same period last year, the business posted ($1.52) earnings per share. On average, equities research analysts forecast that Enerplus Corp. will post ($0.97) earnings per share for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.0077 per share. The ex-dividend date of this dividend is Monday, August 29th. This represents a $0.09 dividend on an annualized basis and a yield of 1.25%.
An institutional investor recently raised its position in Enerplus Corp. stock. Connor Clark & Lunn Investment Management Ltd. increased its position in Enerplus Corp. (NYSE:ERF) by 105.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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 about 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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