Enerplus Corp. (ERF) Trading 6.8% Higher
Enerplus Corp. (NYSE:ERF)’s share price traded up 6.8% on Monday . The company traded as high as $6.96 and last traded at $6.93, with a volume of 826,177 shares. The stock had previously closed at $6.49.
Several equities analysts have weighed in on ERF shares. Credit Suisse Group AG reaffirmed a “buy” rating and set a $11.00 target price on shares of Enerplus Corp. in a research note on Wednesday, June 22nd. Raymond James Financial Inc. started coverage on Enerplus Corp. in a research note on Monday, June 6th. They set an “outperform” rating on the stock. Macquarie raised Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research note on Monday, June 6th. Zacks Investment Research cut Enerplus Corp. from a “hold” rating to a “sell” rating in a research note 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. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Enerplus Corp. presently has a consensus rating of “Buy” and an average price target of $10.07.
The company’s 50 day moving average is $6.31 and its 200 day moving average is $4.83. The stock’s market capitalization is $1.61 billion.
Enerplus Corp. (NYSE:ERF) last released its earnings results on Friday, August 5th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.10) by $0.67. During the same quarter last year, the firm earned ($1.52) earnings per share. The business earned $152.40 million during the quarter, compared to analysts’ expectations of $158.40 million. Equities analysts expect that Enerplus Corp. will post ($0.83) earnings per share for the current year.
The business also recently announced a monthly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be paid a $0.0078 dividend. This represents a $0.09 annualized dividend and a yield of 1.39%. This is a positive change from Enerplus Corp.’s previous monthly dividend of $0.01. The ex-dividend date is Wednesday, July 27th.
A hedge fund recently raised its stake in Enerplus Corp. stock. Morgan Stanley raised 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 (SEC). 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 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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