Enerplus Corp. (ERF) Trading Up 6.8%
Shares of Enerplus Corp. (NYSE:ERF) were up 6.8% during mid-day trading on Monday . The company traded as high as $6.96 and last traded at $6.93, with a volume of 826,177 shares changing hands. The stock had previously closed at $6.49.
A number of analysts have issued reports on ERF shares. BMO Capital Markets reissued a “hold” rating on shares of Enerplus Corp. in a research report on Tuesday, April 12th. Zacks Investment Research lowered Enerplus Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. Barclays PLC upgraded shares of Enerplus Corp. from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 18th. National Bank Financial upgraded shares of Enerplus Corp. from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 9th. Finally, Macquarie upgraded shares of Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research note on Monday, June 6th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Enerplus Corp. presently has an average rating of “Buy” and an average target price of $10.07.
The stock’s market capitalization is $1.62 billion. The company has a 50-day moving average price of $6.29 and a 200 day moving average price of $4.73.
Enerplus Corp. (NYSE:ERF) last posted its quarterly earnings results on Friday, August 5th. The company reported ($0.77) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.67. During the same quarter in the prior year, the company posted ($1.52) earnings per share. The business had revenue of $152.40 million for the quarter, compared to the consensus estimate of $158.40 million. Analysts expect that Enerplus Corp. will post ($0.83) EPS for the current year.
The business 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. This is an increase from Enerplus Corp.’s previous monthly dividend of $0.01. This represents a $0.09 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, July 27th.
An institutional investor recently raised its position in Enerplus Corp. stock. Morgan Stanley increased its position in Enerplus Corp. (NYSE:ERF) by 86.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,210,157 shares of the company’s stock after buying an additional 1,955,593 shares during the period. Morgan Stanley owned 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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