Enerplus Corporation (ERF) Position Held by EdgePoint Investment Group Inc.
EdgePoint Investment Group Inc. continued to hold its stake in Enerplus Corporation (NYSE:ERF) (TSE:ERF) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 624,086 shares of the oil and natural gas company’s stock at the end of the second quarter. EdgePoint Investment Group Inc. owned 0.26% of Enerplus Corporation worth $5,063,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ameriprise Financial Inc. grew its stake in Enerplus Corporation by 141.9% in the second quarter. Ameriprise Financial Inc. now owns 737,594 shares of the oil and natural gas company’s stock valued at $5,990,000 after purchasing an additional 432,709 shares in the last quarter. Fiera Capital Corp grew its stake in Enerplus Corporation by 232.4% in the second quarter. Fiera Capital Corp now owns 136,192 shares of the oil and natural gas company’s stock valued at $1,103,000 after purchasing an additional 95,216 shares in the last quarter. FNY Partners Fund LP purchased a new position in Enerplus Corporation in the second quarter valued at about $223,000. Alliancebernstein L.P. purchased a new position in Enerplus Corporation in the second quarter valued at about $1,702,000. Finally, South Dakota Investment Council grew its stake in Enerplus Corporation by 1.0% in the second quarter. South Dakota Investment Council now owns 728,200 shares of the oil and natural gas company’s stock valued at $5,913,000 after purchasing an additional 7,400 shares in the last quarter. Hedge funds and other institutional investors own 50.71% of the company’s stock.
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Shares of Enerplus Corporation (ERF) traded down 1.59% during mid-day trading on Friday, hitting $9.31. The company’s stock had a trading volume of 986,305 shares. Enerplus Corporation has a 1-year low of $5.61 and a 1-year high of $10.33. The stock has a market cap of $2.25 billion, a PE ratio of 3.06 and a beta of 1.38. The company has a 50-day moving average price of $8.89 and a 200-day moving average price of $8.27.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last announced its quarterly earnings data on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.16. The company had revenue of $191.57 million during the quarter, compared to analysts’ expectations of $257.94 million. Enerplus Corporation had a return on equity of 7.91% and a net margin of 103.80%. During the same quarter last year, the company earned ($0.77) EPS. Analysts predict that Enerplus Corporation will post $0.96 EPS for the current fiscal year.
The business also recently disclosed a monthly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a $0.0078 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Tuesday, August 29th. Enerplus Corporation’s payout ratio is 3.14%.
A number of research analysts have commented on the company. BidaskClub downgraded Enerplus Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Zacks Investment Research downgraded Enerplus Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 15th. ValuEngine upgraded Enerplus Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Capital One Financial Corporation assumed coverage on Enerplus Corporation in a research note on Tuesday, July 11th. They issued an “overweight” rating and a $13.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.40.
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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