Enerplus Corp (ERF) Shares Down 2.9%
Enerplus Corp (NYSE:ERF)’s share price fell 2.9% during trading on Thursday . The stock traded as low as $6.69 and last traded at $6.76, with a volume of 473,370 shares trading hands. The stock had previously closed at $6.96.
Several research firms recently commented on ERF. Credit Suisse Group AG reissued a “buy” rating and issued a $11.00 target price on shares of Enerplus Corp in a report on Wednesday, June 22nd. Canaccord Genuity began coverage on Enerplus Corp in a report on Wednesday, August 17th. They issued a “buy” rating on the stock. National Bank Financial raised Enerplus Corp from a “sector perform” rating to an “outperform” rating in a report on Monday, May 9th. Macquarie raised Enerplus Corp from a “neutral” rating to an “outperform” rating in a report on Monday, June 6th. Finally, Zacks Investment Research raised Enerplus Corp from a “sell” rating to a “hold” rating in a report on Tuesday, May 24th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $9.00.
The company’s market cap is $1.66 billion. The stock has a 50-day moving average price of $6.70 and a 200-day moving average price of $5.32.
Enerplus Corp (NYSE:ERF) last posted its earnings results on Friday, August 5th. The company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.67. The company had revenue of $152.40 million for the quarter, compared to analyst estimates of $158.40 million. During the same quarter last year, the firm earned ($1.52) EPS. On average, equities research analysts expect that Enerplus Corp will post ($0.95) EPS for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a $0.0077 dividend. The ex-dividend date is Monday, August 29th. This represents a $0.09 dividend on an annualized basis and a yield of 1.34%.
A hedge fund recently raised its stake in Enerplus Corp stock. Morgan Stanley boosted its position in 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 about 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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