Enerplus Corp. (ERF) Reaches New 52-Week High at $7.73
Enerplus Corp. (NYSE:ERF)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $7.73 and last traded at $7.71, with a volume of 690,242 shares traded. The stock had previously closed at $7.43.
Several research firms have commented on ERF. Credit Suisse Group AG restated a “buy” rating and issued a $11.00 price target on shares of Enerplus Corp. in a research note on Wednesday, June 22nd. Canaccord Genuity began coverage on shares of Enerplus Corp. in a research note on Wednesday. They set a “buy” rating for the company. 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. Macquarie upgraded shares of Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research note on Monday, June 6th. Finally, Zacks Investment Research upgraded shares of Enerplus Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, May 24th. Three research 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 a consensus price target of $9.00.
The stock’s 50-day moving average is $6.51 and its 200-day moving average is $5.05. The company’s market capitalization is $1.84 billion.
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 forecast 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. Stockholders of record on Friday, July 29th were paid a $0.0078 dividend. 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 dividend yield of 1.21%. The ex-dividend date was Wednesday, July 27th.
A hedge fund recently raised its stake in Enerplus Corp. stock. Morgan Stanley raised its position in shares of Enerplus Corp. (NYSE:ERF) by 86.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 quarter.
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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