Shares of Enerplus Corp (NYSE:ERF) (TSE:ERF) rose 1.9% on Thursday . The stock traded as high as $12.26 and last traded at $11.82. Approximately 805,248 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 1,175,857 shares. The stock had previously closed at $12.05.
ERF has been the subject of several research reports. AltaCorp Capital reiterated a “buy” rating and issued a $16.00 target price on shares of Enerplus in a report on Monday, January 15th. Zacks Investment Research downgraded shares of Enerplus from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Enerplus currently has a consensus rating of “Buy” and an average price target of $14.40.
The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $2,935.42, a price-to-earnings ratio of 15.70 and a beta of 1.42.
The firm also recently declared a monthly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be paid a $0.0077 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.09 annualized dividend and a dividend yield of 0.81%. Enerplus’s dividend payout ratio (DPR) is 13.70%.
Enerplus declared that its board has approved a stock buyback program on Wednesday, March 21st that allows the company to repurchase 17,100,000 shares. This repurchase authorization allows the oil and natural gas company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
Several large investors have recently bought and sold shares of the business. Lincluden Management Ltd. grew its stake in shares of Enerplus by 6.5% in the fourth quarter. Lincluden Management Ltd. now owns 1,779,736 shares of the oil and natural gas company’s stock worth $17,858,000 after acquiring an additional 109,235 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Enerplus in the fourth quarter worth $413,000. Two Sigma Securities LLC acquired a new position in shares of Enerplus in the fourth quarter worth $155,000. York Capital Management Global Advisors LLC acquired a new position in shares of Enerplus in the fourth quarter worth $3,479,000. Finally, Jefferies Group LLC acquired a new position in shares of Enerplus in the fourth quarter worth $180,000. Institutional investors and hedge funds own 49.26% of the company’s stock.
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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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