Enerplus Corp. (ERF) Trading Down 6.2%
Enerplus Corp. (NYSE:ERF) shares were down 6.2% during mid-day trading on Tuesday . The company traded as low as $6.13 and last traded at $6.17, with a volume of 525,180 shares traded. The stock had previously closed at $6.58.
A number of research analysts have recently issued reports on ERF shares. National Bank Financial raised shares of Enerplus Corp. from a “sector perform” rating to an “outperform” rating in a research report on Monday, May 9th. BMO Capital Markets reaffirmed a “hold” rating on shares of Enerplus Corp. in a research report on Tuesday, April 12th. Macquarie raised shares of Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research report on Monday, June 6th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Enerplus Corp. in a research report on Wednesday, June 22nd. Finally, Raymond James Financial Inc. initiated coverage on shares of Enerplus Corp. in a research report on Monday, June 6th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $10.07.
The firm’s market capitalization is $1.34 billion. The company’s 50 day moving average is $5.93 and its 200 day moving average is $4.26.
Enerplus Corp. (NYSE:ERF) last issued its earnings results on Friday, May 6th. The company reported ($0.84) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by $0.68. During the same quarter last year, the business posted ($1.42) earnings per share. The company had revenue of $156.10 million for the quarter, compared to analysts’ expectations of $186.73 million. The firm’s quarterly revenue was down 38.9% compared to the same quarter last year. On average, equities analysts predict that Enerplus Corp. will post ($0.96) earnings per share for the current year.
The company also recently announced a monthly dividend, which will be paid on Friday, July 15th. Investors of record on Tuesday, June 28th will be issued a $0.0077 dividend. The ex-dividend date is Friday, June 24th. This represents a $0.09 annualized dividend and a yield of 1.43%.
A number of hedge funds have recently modified their holdings of ERF. First Trust Advisors LP boosted its stake in shares of Enerplus Corp. by 27.9% in the fourth quarter. First Trust Advisors LP now owns 1,441,528 shares of the company’s stock valued at $4,930,000 after buying an additional 314,683 shares during the period. TD Asset Management Inc. raised its position in shares of Enerplus Corp. by 9.1% in the fourth quarter. TD Asset Management Inc. now owns 4,675,903 shares of the company’s stock valued at $15,989,000 after buying an additional 391,946 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Enerplus Corp. by 86.7% in the fourth quarter. Morgan Stanley now owns 4,210,157 shares of the company’s stock valued at $14,397,000 after buying an additional 1,955,593 shares in the last quarter.
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.