Enerplus Corporation (ERF) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Enerplus Corporation (NYSE:ERF) (TSE:ERF) from a hold rating to a sell rating in a research note published on Wednesday morning.
According to Zacks, “Enerplus Corporation, formerly known as Enerplus Resources, is an independent oil and gas production company with resources across Western Canada and the United States. The Company’s resource plays include shallow gas/coal bed methane, tight gas, crude oil waterfloods, Bakken/Tight oil and oil sands located in British Columbia, Alberta, Saskatchewan and Manitoba. Enerplus Corporation is based in Alberta, Canada. “
ERF has been the topic of several other reports. Scotiabank restated a buy rating and set a $16.00 target price on shares of Enerplus Corporation in a research report on Tuesday. ValuEngine upgraded shares of Enerplus Corporation from a sell rating to a hold rating in a research report on Thursday, July 13th. Capital One Financial Corporation initiated coverage on shares of Enerplus Corporation in a research report on Tuesday, July 11th. They set an overweight rating and a $13.00 target price on the stock. Finally, BidaskClub upgraded shares of Enerplus Corporation from a sell rating to a hold rating in a research report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $14.80.
Shares of Enerplus Corporation (NYSE ERF) traded up 1.01% on Wednesday, hitting $9.01. The stock had a trading volume of 692,855 shares. The stock has a market cap of $2.18 billion, a PE ratio of 2.88 and a beta of 1.39. Enerplus Corporation has a 12 month low of $6.26 and a 12 month high of $10.33. The company has a 50 day moving average price of $9.29 and a 200-day moving average price of $8.45.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last announced its earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.16. The firm had revenue of $191.57 million for the quarter, compared to analysts’ expectations of $257.94 million. Enerplus Corporation had a net margin of 103.80% and a return on equity of 7.91%. During the same period in the prior year, the company earned ($0.77) EPS. On average, equities research analysts anticipate that Enerplus Corporation will post $0.94 earnings per share for the current year.
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The company also recently declared a monthly dividend, which was paid on Friday, October 13th. Investors of record on Thursday, September 28th were issued a dividend of $0.008 per share. The ex-dividend date was Wednesday, September 27th. This represents a $0.10 annualized dividend and a yield of 1.07%. Enerplus Corporation’s payout ratio is 3.48%.
A number of large investors have recently modified their holdings of ERF. Comerica Bank grew its holdings in Enerplus Corporation by 1.3% during the 1st quarter. Comerica Bank now owns 13,775 shares of the oil and natural gas company’s stock valued at $101,000 after purchasing an additional 180 shares during the last quarter. Private Capital Management Inc. bought a new position in Enerplus Corporation during the 2nd quarter valued at about $122,000. ETRADE Capital Management LLC grew its holdings in Enerplus Corporation by 5.8% during the 2nd quarter. ETRADE Capital Management LLC now owns 15,052 shares of the oil and natural gas company’s stock valued at $122,000 after purchasing an additional 822 shares during the last quarter. Creative Planning grew its holdings in Enerplus Corporation by 40.5% during the 2nd quarter. Creative Planning now owns 17,605 shares of the oil and natural gas company’s stock valued at $143,000 after purchasing an additional 5,074 shares during the last quarter. Finally, Pacad Investment Ltd. grew its holdings in Enerplus Corporation by 69.0% during the 2nd quarter. Pacad Investment Ltd. now owns 20,108 shares of the oil and natural gas company’s stock valued at $163,000 after purchasing an additional 8,208 shares during the last quarter. Institutional investors own 50.71% of the company’s stock.
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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