Enerplus Corp. (ERF) Trading Down 5%
Enerplus Corp. (NYSE:ERF) shares fell 5% during mid-day trading on Monday . The company traded as low as $6.02 and last traded at $6.06, with a volume of 411,752 shares trading hands. The stock had previously closed at $6.38.
A number of research firms have issued reports on ERF. Credit Suisse Group AG reiterated a “buy” rating and issued a $11.00 target price on shares of Enerplus Corp. in a research report on Wednesday, June 22nd. Raymond James Financial Inc. began coverage on Enerplus Corp. in a research report on Monday, June 6th. They issued an “outperform” rating on the stock. Macquarie upgraded Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research report on Monday, June 6th. Zacks Investment Research cut Enerplus Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Finally, National Bank Financial raised Enerplus Corp. from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 9th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Enerplus Corp. has a consensus rating of “Buy” and a consensus price target of $10.07.
The company has a 50-day moving average price of $6.32 and a 200-day moving average price of $4.51. The company’s market cap is $1.25 billion.
Enerplus Corp. (NYSE:ERF) last announced its quarterly earnings data on Friday, May 6th. The company reported ($0.84) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by $0.68. During the same quarter last year, the firm earned ($1.42) EPS. The firm earned $156.10 million during the quarter, compared to analyst estimates of $186.73 million. The firm’s quarterly revenue was down 38.9% on a year-over-year basis. On average, equities research analysts predict that Enerplus Corp. will post ($0.67) EPS for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 29th will be given a $0.0078 dividend. The ex-dividend date is Wednesday, July 27th. This represents a $0.09 annualized dividend and a dividend yield of 1.55%. This is a boost from Enerplus Corp.’s previous monthly dividend of $0.01.
A hedge fund recently raised its stake in Enerplus Corp. stock. First Trust Advisors LP raised its stake in shares of Enerplus Corp. (NYSE:ERF) by 27.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,441,528 shares of the company’s stock after buying an additional 314,683 shares during the period. First Trust Advisors LP owned about 0.70% of Enerplus Corp. worth $4,930,000 at the end of the most recent reporting period.
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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