Enerplus Corp. (ERF) Stock Price Up 4.2%
Enerplus Corp. (NYSE:ERF)’s share price rose 4.2% during trading on Monday . The company traded as high as $7.29 and last traded at $7.18, with a volume of 1,067,449 shares trading hands. The stock had previously closed at $6.89.
ERF has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Enerplus Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 19th. National Bank Financial upgraded shares of Enerplus Corp. from a “sector perform” rating to an “outperform” rating in a research report on Monday, May 9th. Macquarie upgraded shares of Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research report on Monday, June 6th. Raymond James Financial Inc. initiated coverage on shares of Enerplus Corp. in a research report on Monday, June 6th. They issued an “outperform” rating for the company. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $11.00 price objective on shares of Enerplus Corp. in a research report on Wednesday, June 22nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $9.00.
The firm’s 50 day moving average price is $6.41 and its 200 day moving average price is $4.98. The company’s market cap is $1.78 billion.
Enerplus Corp. (NYSE:ERF) last issued its 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 period last year, the business posted ($1.52) earnings per share. The business earned $152.40 million during the quarter, compared to analyst estimates of $158.40 million. On average, analysts anticipate that Enerplus Corp. will post ($0.96) EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 29th were given a $0.0078 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 1.26%. This is a positive change from Enerplus Corp.’s previous monthly dividend of $0.01. The ex-dividend date of this dividend was Wednesday, July 27th.
An institutional investor recently raised its position 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 disclosure with the Securities and Exchange Commission (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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