Enerplus Corp. (ERF) Stock Price Down 2.9%
Enerplus Corp. (NYSE:ERF)’s share price fell 2.9% on Thursday . The stock traded as low as $6.69 and last traded at $6.76, with a volume of 473,370 shares changing hands. The stock had previously closed at $6.96.
Several research firms have recently weighed in on ERF. Zacks Investment Research upgraded shares of Enerplus Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 24th. Raymond James Financial Inc. began coverage on shares of Enerplus Corp. in a research report on Monday, June 6th. They set an “outperform” rating for the company. Credit Suisse Group AG restated a “buy” rating and set a $11.00 price objective on shares of Enerplus Corp. in a research report on Wednesday, June 22nd. Macquarie upgraded shares of Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research report on Monday, June 6th. Finally, Canaccord Genuity began coverage on shares of Enerplus Corp. in a research report on Wednesday, August 17th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $9.00.
The stock’s market capitalization is $1.70 billion. The company’s 50 day moving average price is $6.72 and its 200-day moving average price is $5.33.
Enerplus Corp. (NYSE:ERF) last released its quarterly earnings results 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 earned $152.40 million during the quarter, compared to analyst estimates of $158.40 million. During the same period last year, the company earned ($1.52) earnings per share. On average, equities research analysts predict that Enerplus Corp. will post ($0.95) EPS for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be issued a $0.0077 dividend. The ex-dividend date of this dividend is Monday, August 29th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.31%.
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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