Enerplus Corp. (ERF) Trading 6.4% Higher
Shares of Enerplus Corp. (NYSE:ERF) were up 6.4% during trading on Tuesday . The company traded as high as $6.72 and last traded at $6.66, with a volume of 739,424 shares trading hands. The stock had previously closed at $6.26.
A number of analysts recently commented on ERF shares. BMO Capital Markets reaffirmed a “hold” rating on shares of Enerplus Corp. in a research report on Tuesday, April 12th. Zacks Investment Research downgraded Enerplus Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Barclays PLC upgraded Enerplus Corp. from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 18th. National Bank Financial upgraded Enerplus Corp. from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 9th. Finally, Macquarie upgraded Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research note on Monday, June 6th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $10.07.
The firm has a 50-day moving average price of $6.04 and a 200 day moving average price of $4.33. The firm’s market cap is $1.37 billion.
Enerplus Corp. (NYSE:ERF) last posted its earnings results on Friday, May 6th. The company reported ($0.84) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.68. The firm had revenue of $156.10 million for the quarter, compared to the consensus estimate of $186.73 million. During the same period in the prior year, the company posted ($1.42) EPS. The company’s revenue for the quarter was down 38.9% compared to the same quarter last year. Analysts forecast that Enerplus Corp. will post ($0.96) earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Friday, July 15th. Investors of record on Tuesday, June 28th will be paid a $0.0077 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Friday, June 24th.
A number of institutional investors recently added to or reduced their stakes in ERF. Morgan Stanley increased its position in Enerplus Corp. by 86.7% in the fourth quarter. Morgan Stanley now owns 4,210,157 shares of the company’s stock worth $14,397,000 after buying an additional 1,955,593 shares during the last quarter. TD Asset Management Inc. increased its position in Enerplus Corp. by 9.1% in the fourth quarter. TD Asset Management Inc. now owns 4,675,903 shares of the company’s stock worth $15,989,000 after buying an additional 391,946 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Enerplus Corp. by 27.9% in the fourth quarter. First Trust Advisors LP now owns 1,441,528 shares of the company’s stock worth $4,930,000 after buying an additional 314,683 shares during 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.
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