Spark Investment Management LLC Invests $482,000 in Enerplus Corporation (ERF)
Spark Investment Management LLC acquired a new position in Enerplus Corporation (NYSE:ERF) (TSE:ERF) during the first quarter, Holdings Channel reports. The fund acquired 60,000 shares of the oil and natural gas company’s stock, valued at approximately $482,000.
A number of other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank increased its stake in Enerplus Corporation by 30.4% in the fourth quarter. Comerica Bank now owns 13,595 shares of the oil and natural gas company’s stock worth $125,000 after buying an additional 3,172 shares in the last quarter. Trexquant Investment LP increased its stake in Enerplus Corporation by 20.8% in the fourth quarter. Trexquant Investment LP now owns 54,600 shares of the oil and natural gas company’s stock worth $518,000 after buying an additional 9,405 shares in the last quarter. Letko Brosseau & Associates Inc. increased its stake in Enerplus Corporation by 2.5% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 8,494,175 shares of the oil and natural gas company’s stock worth $80,596,000 after buying an additional 204,475 shares in the last quarter. Guardian Capital LP purchased a new stake in Enerplus Corporation during the fourth quarter worth $440,000. Finally, Scotia Capital Inc. increased its stake in Enerplus Corporation by 118.6% in the fourth quarter. Scotia Capital Inc. now owns 41,837 shares of the oil and natural gas company’s stock worth $396,000 after buying an additional 22,701 shares in the last quarter. 50.21% of the stock is owned by hedge funds and other institutional investors.
Enerplus Corporation (NYSE ERF) traded down 2.98% on Wednesday, reaching $8.14. The company had a trading volume of 621,112 shares. Enerplus Corporation has a 12-month low of $5.59 and a 12-month high of $10.33. The stock’s 50-day moving average price is $7.84 and its 200-day moving average price is $8.51. The stock has a market capitalization of $1.97 billion, a P/E ratio of 4.08 and a beta of 1.32.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last issued its earnings results on Friday, May 5th. The oil and natural gas company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.02 by $0.21. Enerplus Corporation had a return on equity of 0.14% and a net margin of 78.95%. The business had revenue of $172.11 million during the quarter, compared to the consensus estimate of $233.23 million. During the same quarter last year, the company earned ($0.84) EPS. On average, equities research analysts anticipate that Enerplus Corporation will post $0.55 EPS for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, May 26th will be paid a $0.007 dividend. The ex-dividend date is Wednesday, May 24th. This represents a $0.08 annualized dividend and a yield of 1.00%. Enerplus Corporation’s dividend payout ratio is currently 4.79%.
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ERF has been the subject of a number of research reports. Zacks Investment Research downgraded Enerplus Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Canaccord Genuity reissued a “buy” rating and set a $16.00 target price on shares of Enerplus Corporation in a report on Monday, May 8th. Finally, TheStreet raised Enerplus Corporation from a “d” rating to a “c-” rating in a report on Friday, March 17th. Six equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $13.50.
About Enerplus Corporation
Enerplus Corporation is an oil and natural gas company. The Company’s oil and natural gas property interests are located in the United States, primarily in North Dakota, Montana, and Pennsylvania, as well as in western Canada in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s oil and natural gas property interests contains proved plus probable gross reserves of approximately 14.3 million barrels (MMbbls) of light and medium crude oil, 39.0 MMbbls of heavy crude oil, 123 MMbbls of tight oil, 18.1 MMbbls of natural gas liquids (NGLs), 126.3 billion cubic feet (Bcf) of conventional natural gas and 1,002.8 Bcf of shale gas, for a total of approximately 382.5 million barrels of oil equivalent (MMBOE).
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