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

A number of research analysts recently weighed in on ERF shares. Zacks Investment Research downgraded shares of Enerplus Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Raymond James Financial Inc. started coverage on shares of Enerplus Corp. in a research report on Monday, June 6th. They issued an “outperform” rating for the company. Macquarie raised shares of Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research report on Monday, June 6th. 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. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Enerplus Corp. in a research report on Tuesday, April 12th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $10.07.

The company’s 50-day moving average price is $6.25 and its 200 day moving average price is $4.70. The stock’s market capitalization is $1.25 billion.

Enerplus Corp. (NYSE:ERF) last released its earnings results 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. The company earned $156.10 million during the quarter, compared to analysts’ expectations of $186.73 million. During the same period last year, the firm earned ($1.42) earnings per share. Enerplus Corp.’s quarterly revenue was down 38.9% compared to the same quarter last year. On average, analysts expect that Enerplus Corp. will post ($0.68) earnings per share for the current year.

The business also recently announced a monthly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 29th will be paid a dividend of $0.0078 per share. The ex-dividend date of this dividend is Wednesday, July 27th. This is a positive change from Enerplus Corp.’s previous monthly dividend of $0.01. This represents a $0.09 annualized dividend and a yield of 1.59%.

An institutional investor recently raised its position in Enerplus Corp. stock. Morgan Stanley increased its stake in Enerplus Corp. (NYSE:ERF) by 86.7% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,210,157 shares of the company’s stock after buying an additional 1,955,593 shares during the period. Morgan Stanley owned about 2.04% of Enerplus Corp. worth $14,397,000 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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