Enerplus Corp. (ERF) Shares Up 3.2%
Shares of Enerplus Corp. (NYSE:ERF) shot up 3.2% on Tuesday . The company traded as high as $6.00 and last traded at $5.83, with a volume of 761,036 shares. The stock had previously closed at $5.65.
A number of brokerages have recently weighed in on ERF. Credit Suisse Group AG reiterated a “buy” rating and set a $11.00 price target 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 set 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 upgraded Enerplus Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 24th. Finally, National Bank Financial upgraded Enerplus Corp. from a “sector perform” rating to an “outperform” rating in a research report 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. presently has an average rating of “Buy” and a consensus price target of $10.07.
The stock’s 50-day moving average price is $6.26 and its 200 day moving average price is $4.71. The stock’s market capitalization is $1.27 billion.
Enerplus Corp. (NYSE:ERF) last released its earnings results on Friday, May 6th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.68. The company earned $156.10 million during the quarter, compared to analyst estimates of $186.73 million. During the same quarter in the previous year, the business posted ($1.42) earnings per share. The firm’s quarterly revenue was down 38.9% compared to the same quarter last year. On average, equities research analysts predict that Enerplus Corp. will post ($0.68) earnings per share for the current year.
The company also recently announced a monthly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 29th will be given a dividend of $0.0078 per share. This is a positive change from Enerplus Corp.’s previous monthly dividend of $0.01. This represents a $0.09 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Wednesday, July 27th.
A hedge fund recently raised its stake in Enerplus Corp. stock. Morgan Stanley increased its position in shares of Enerplus Corp. (NYSE:ERF) by 86.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 SEC filing.
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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