Enerplus Corp. (ERF) Hits New 1-Year High at $6.98
Enerplus Corp. (NYSE:ERF) reached a new 52-week high during trading on Friday . The company traded as high as $6.98 and last traded at $6.80, with a volume of 326,634 shares changing hands. The stock had previously closed at $6.83.
A number of research firms have commented on ERF. Credit Suisse Group AG reissued a “buy” rating and issued a $11.00 target price on shares of Enerplus Corp. in a report on Wednesday, June 22nd. Raymond James Financial Inc. began coverage on Enerplus Corp. in a report on Monday, June 6th. They issued an “outperform” rating for the company. Macquarie raised Enerplus Corp. from a “neutral” rating to an “outperform” rating in a report on Monday, June 6th. Zacks Investment Research raised Enerplus Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, May 24th. Finally, National Bank Financial raised Enerplus Corp. from a “sector perform” rating to an “outperform” rating in a report on Monday, May 9th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $9.00.
The company’s market capitalization is $1.66 billion. The company has a 50 day moving average price of $6.34 and a 200-day moving average price of $4.89.
Enerplus Corp. (NYSE:ERF) last issued its quarterly earnings data on Friday, August 5th. The company reported ($0.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.67. The company earned $152.40 million during the quarter, compared to analysts’ expectations of $158.40 million. During the same period in the prior year, the firm posted ($1.52) EPS. On average, equities analysts expect that Enerplus Corp. will post ($0.96) earnings per share for the current year.
The business also recently disclosed 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 is Wednesday, July 27th. This represents a $0.09 dividend on an annualized basis and a yield of 1.35%. This is an increase from Enerplus Corp.’s previous monthly dividend of $0.01.
A hedge fund recently raised its stake 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 disclosure 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 approximately 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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