Enerplus Corp. (ERF) Rating Reiterated by Barclays PLC
Enerplus Corp. (NYSE:ERF)‘s stock had its “buy” rating reaffirmed by Barclays PLC in a research note issued to investors on Thursday.
A number of other equities research analysts have also recently issued reports on the stock. Canaccord Genuity assumed coverage on shares of Enerplus Corp. in a research note on Wednesday, August 17th. They issued a “buy” rating for the company. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Enerplus Corp. in a research note on Wednesday, June 22nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Enerplus Corp. presently has a consensus rating of “Buy” and a consensus price target of $8.88.
Enerplus Corp. (NYSE:ERF) opened at 7.31 on Thursday. The firm’s market capitalization is $1.76 billion. The stock’s 50 day moving average is $6.70 and its 200-day moving average is $5.89. Enerplus Corp. has a one year low of $1.84 and a one year high of $7.82.
Enerplus Corp. (NYSE:ERF) last announced 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. Enerplus Corp. had a negative net margin of 155.95% and a negative return on equity of 60.19%. The business earned $152.40 million during the quarter, compared to analysts’ expectations of $158.40 million. During the same period last year, the company posted ($1.52) EPS. On average, analysts anticipate that Enerplus Corp. will post ($0.87) EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 29th will be given a dividend of $0.0076 per share. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $0.09 annualized dividend and a yield of 1.25%. Enerplus Corp.’s payout ratio is currently -1.97%.
A number of large investors have recently made changes to their positions in ERF. Sequoia Financial Advisors LLC purchased a new stake in shares of Enerplus Corp. during the second quarter valued at $100,000. Advisor Group Inc. purchased a new stake in shares of Enerplus Corp. during the second quarter valued at $111,000. San Francisco Sentry Investment Group CA boosted its stake in shares of Enerplus Corp. by 1.6% in the second quarter. San Francisco Sentry Investment Group CA now owns 17,016 shares of the company’s stock valued at $112,000 after buying an additional 262 shares during the last quarter. Creative Planning boosted its stake in shares of Enerplus Corp. by 27.5% in the second quarter. Creative Planning now owns 18,706 shares of the company’s stock valued at $123,000 after buying an additional 4,029 shares during the last quarter. Finally, Shell Asset Management Co. boosted its stake in shares of Enerplus Corp. by 4.0% in the second quarter. Shell Asset Management Co. now owns 15,500 shares of the company’s stock valued at $132,000 after buying an additional 600 shares during the last quarter. 43.25% of the stock is owned by institutional investors and hedge funds.
Enerplus Corp. Company Profile
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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