Proxima Capital Management LLC reduced its position in shares of Enerplus Corporation (NYSE:ERF) (TSE:ERF) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 980,000 shares of the oil and natural gas company’s stock after selling 137,280 shares during the period. Enerplus Corporation comprises about 4.3% of Proxima Capital Management LLC’s investment portfolio, making the stock its 7th largest holding. Proxima Capital Management LLC owned 0.40% of Enerplus Corporation worth $7,958,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Comerica Bank boosted its position in shares of Enerplus Corporation by 1.3% during the first quarter. Comerica Bank now owns 13,775 shares of the oil and natural gas company’s stock worth $101,000 after buying an additional 180 shares during the period. Private Capital Management Inc. acquired a new position in shares of Enerplus Corporation during the second quarter worth about $122,000. ETRADE Capital Management LLC boosted its position in shares of Enerplus Corporation by 5.8% during the second quarter. ETRADE Capital Management LLC now owns 15,052 shares of the oil and natural gas company’s stock worth $122,000 after buying an additional 822 shares during the period. Creative Planning boosted its position in shares of Enerplus Corporation by 40.5% during the second quarter. Creative Planning now owns 17,605 shares of the oil and natural gas company’s stock worth $143,000 after buying an additional 5,074 shares during the period. Finally, Pacad Investment Ltd. boosted its position in shares of Enerplus Corporation by 69.0% during the second quarter. Pacad Investment Ltd. now owns 20,108 shares of the oil and natural gas company’s stock worth $163,000 after buying an additional 8,208 shares during the period. 50.71% of the stock is owned by institutional investors.
Several research analysts have recently weighed in on the company. ValuEngine raised Enerplus Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub cut Enerplus Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Zacks Investment Research cut Enerplus Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Capital One Financial Corporation assumed coverage on Enerplus Corporation in a research report on Tuesday, July 11th. They set an “overweight” rating and a $13.00 price objective for the company. Finally, Scotiabank reaffirmed a “buy” rating and set a $16.00 price objective on shares of Enerplus Corporation in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating and six have given a buy rating to the stock. Enerplus Corporation presently has a consensus rating of “Buy” and a consensus price target of $14.80.
Shares of Enerplus Corporation (NYSE ERF) traded up 1.57% on Friday, reaching $9.06. The company had a trading volume of 328,623 shares. The stock has a 50-day moving average price of $9.28 and a 200-day moving average price of $8.44. Enerplus Corporation has a 12 month low of $6.26 and a 12 month high of $10.33. The stock has a market cap of $2.19 billion, a PE ratio of 2.90 and a beta of 1.39.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last released its quarterly earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.16. The business had revenue of $191.57 million during the quarter, compared to the consensus estimate 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 in the previous year, the business earned ($0.77) EPS. Analysts predict that Enerplus Corporation will post $0.95 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Friday, October 13th. Shareholders of record on Thursday, September 28th will be paid a dividend of $0.008 per share. The ex-dividend date is Wednesday, September 27th. This represents a $0.10 dividend on an annualized basis and a yield of 1.08%. Enerplus Corporation’s dividend payout ratio (DPR) is currently 3.48%.
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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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