Enerplus Corp. (ERF) Stock Price Up 3.5%
Shares of Enerplus Corp. (NYSE:ERF) rose 3.5% on Friday . The stock traded as high as $7.19 and last traded at $7.16, with a volume of 427,715 shares trading hands. The stock had previously closed at $6.92.
ERF has been the subject of several research analyst reports. Canaccord Genuity initiated coverage on Enerplus Corp. in a report on Wednesday, August 17th. They issued a “buy” rating for the company. Credit Suisse Group AG reissued a “buy” rating and issued a $11.00 price objective on shares of Enerplus Corp. in a report on Wednesday, June 22nd. Zacks Investment Research raised Enerplus Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, May 24th. Raymond James Financial Inc. initiated coverage on Enerplus Corp. in a report on Monday, June 6th. They issued an “outperform” rating for the company. Finally, Macquarie raised Enerplus Corp. from a “neutral” rating to an “outperform” rating in a report on Monday, June 6th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Enerplus Corp. currently has a consensus rating of “Buy” and a consensus price target of $9.00.
The company’s 50-day moving average price is $6.70 and its 200 day moving average price is $5.32. The company’s market capitalization is $1.70 billion.
Enerplus Corp. (NYSE:ERF) last issued its quarterly earnings data 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 had revenue of $152.40 million for the quarter, compared to analysts’ expectations of $158.40 million. During the same period in the previous year, the company earned ($1.52) EPS. Analysts predict that Enerplus Corp. will post ($0.95) EPS for the current year.
The company also recently declared a monthly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.0077 per share. This represents a $0.09 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Monday, August 29th.
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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