A number of other research analysts have also recently issued reports on the stock. Canaccord Genuity initiated coverage on shares of Enerplus Corp. in a research note 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 report on Wednesday, June 22nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $8.88.
Enerplus Corp. (NYSE:ERF) last posted 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 net margin of 155.95% and a negative return on equity of 60.19%. The firm earned $152.40 million during the quarter, compared to the consensus estimate of $158.40 million. During the same quarter last year, the firm posted ($1.52) EPS.
The firm also recently announced a monthly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 29th will be issued a dividend of $0.0076 per share. This represents a $0.09 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Tuesday, September 27th. Enerplus Corp.’s dividend payout ratio is presently -1.97%.
A number of hedge funds have recently added to or reduced their stakes in ERF. CIBC World Markets Inc. raised its stake in Enerplus Corp. by 6.8% in the first quarter. CIBC World Markets Inc. now owns 141,358 shares of the company’s stock worth $556,000 after buying an additional 9,036 shares in the last quarter. Credit Agricole S A raised its position in shares of Enerplus Corp. by 460.3% in the first quarter. Credit Agricole S A now owns 266,200 shares of the company’s stock valued at $1,047,000 after buying an additional 218,690 shares during the period. Wellington Management Group LLP raised its position in shares of Enerplus Corp. by 104.5% in the first quarter. Wellington Management Group LLP now owns 2,348,067 shares of the company’s stock valued at $9,240,000 after buying an additional 1,199,760 shares during the period. Creative Planning raised its position 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 period. Finally, Barometer Capital Management Inc. purchased a new position in shares of Enerplus Corp. during the second quarter valued at about $11,907,000. 43.25% of the stock is owned by hedge funds and other institutional investors.
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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