Enerplus Corp. (NYSE:ERF) shares dropped 5.4% during trading on Monday . The stock traded as low as $5.64 and last traded at $5.65, with a volume of 499,582 shares traded. The stock had previously closed at $5.97.

ERF has been the topic of several recent research reports. Zacks Investment Research downgraded Enerplus Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. National Bank Financial raised Enerplus Corp. from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 9th. Macquarie raised Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research note 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 note on Wednesday, June 22nd. Finally, Barclays PLC raised Enerplus Corp. from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 18th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Enerplus Corp. presently has an average rating of “Buy” and an average price target of $10.07.

The firm’s 50-day moving average is $6.25 and its 200-day moving average is $4.67. The stock’s market capitalization is $1.17 billion.

Enerplus Corp. (NYSE:ERF) last posted its quarterly 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. The business earned $156.10 million during the quarter, compared to analyst estimates of $186.73 million. The business’s revenue was down 38.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.42) EPS. On average, equities analysts expect that Enerplus Corp. will post ($0.68) earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be paid a dividend of $0.0078 per share. The ex-dividend date is Wednesday, July 27th. This represents a $0.09 annualized dividend and a yield of 1.65%. 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 boosted 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 fund 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 as of its most recent filing with the SEC.

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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