Enerplus Corp. (NYSE:ERF) has received a consensus recommendation of “Buy” from the ten research firms that are covering the firm. Three analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $10.00.
A number of brokerages have issued reports on ERF. Canaccord Genuity began coverage on Enerplus Corp. in a report on Wednesday, August 17th. They issued a “buy” rating for the company. Credit Suisse Group AG reissued a “buy” rating and issued a $11.00 price target on shares of Enerplus Corp. in a research note on Wednesday, June 22nd. Raymond James Financial Inc. assumed coverage on Enerplus Corp. in a research note on Monday, June 6th. They issued an “outperform” rating for the company. Finally, Macquarie raised Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research note on Monday, June 6th.
Large investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC acquired a new stake in shares of Enerplus Corp. during the second quarter valued at approximately $100,000. Advisor Group Inc. acquired a new stake in shares of Enerplus Corp. during the second quarter valued at approximately $111,000. San Francisco Sentry Investment Group CA raised its stake in shares of Enerplus Corp. by 1.6% in the second quarter. San Francisco Sentry Investment Group CA now owns 17,016 shares of the company’s stock valued at $112,000 after buying an additional 262 shares during the last quarter. Creative Planning raised its stake in shares of Enerplus Corp. by 27.5% in the second quarter. Creative Planning now owns 18,706 shares of the company’s stock valued at $123,000 after buying an additional 4,029 shares during the last quarter. Finally, Shell Asset Management Co. raised its stake in shares of Enerplus Corp. by 4.0% in the second quarter. Shell Asset Management Co. now owns 15,500 shares of the company’s stock valued at $132,000 after buying an additional 600 shares during the last quarter. Institutional investors own 43.25% of the company’s stock.
Shares of Enerplus Corp. (NYSE:ERF) opened at 6.69 on Thursday. Enerplus Corp. has a 12 month low of $1.84 and a 12 month high of $7.82. The firm’s market cap is $1.61 billion. The company has a 50-day moving average price of $6.73 and a 200-day moving average price of $5.82.
Enerplus Corp. (NYSE:ERF) last issued its earnings results on Friday, August 5th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.67. Enerplus Corp. had a negative return on equity of 60.19% and a negative net margin of 155.95%. The firm earned $152.40 million during the quarter, compared to analyst estimates of $158.40 million. During the same period in the previous year, the company earned ($1.52) EPS. Analysts forecast that Enerplus Corp. will post ($0.94) earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 29th will be given a dividend of $0.0076 per share. The ex-dividend date is Tuesday, September 27th. This represents a $0.09 annualized dividend and a dividend yield of 1.36%. Enerplus Corp.’s payout ratio is -1.97%.
About Enerplus Corp.
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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