Enerplus (ERF) Issues Quarterly Earnings Results

Enerplus (NYSE:ERF) (TSE:ERF) announced its quarterly earnings results on Friday. The oil and natural gas company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03, Morningstar.com reports. The company had revenue of $216.21 million during the quarter, compared to analyst estimates of $215.00 million. Enerplus had a return on equity of 12.78% and a net margin of 32.58%. During the same period in the prior year, the firm posted $0.12 earnings per share.

Shares of NYSE ERF traded up $0.30 on Friday, hitting $8.85. The company had a trading volume of 1,205,899 shares, compared to its average volume of 821,926. Enerplus has a 12-month low of $6.84 and a 12-month high of $13.87. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.78 and a quick ratio of 1.78. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 8.12 and a beta of 1.65.

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a $0.0075 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Monday, April 29th. Enerplus’s payout ratio is 8.26%.



Several equities research analysts have commented on ERF shares. ValuEngine lowered Enerplus from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 24th. TheStreet raised Enerplus from a “d+” rating to a “c+” rating in a research report on Monday, February 25th. Zacks Investment Research raised Enerplus from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a research report on Wednesday, April 24th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $18.00 target price on shares of Enerplus in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $17.38.

Several hedge funds and other institutional investors have recently modified their holdings of ERF. Wells Fargo & Company MN raised its stake in Enerplus by 26.0% in the 3rd quarter. Wells Fargo & Company MN now owns 58,524 shares of the oil and natural gas company’s stock valued at $722,000 after purchasing an additional 12,063 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Enerplus by 7.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 147,127 shares of the oil and natural gas company’s stock valued at $1,816,000 after purchasing an additional 9,723 shares during the last quarter. Jane Street Group LLC acquired a new position in Enerplus in the 3rd quarter valued at $207,000. Vanguard Group Inc. raised its stake in Enerplus by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,013,637 shares of the oil and natural gas company’s stock valued at $74,208,000 after purchasing an additional 276,520 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Enerplus in the 3rd quarter valued at $3,437,000. 57.59% of the stock is owned by institutional investors.

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About Enerplus

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company's oil and natural gas properties are located primarily in North Dakota, Montana, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.

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Earnings History for Enerplus (NYSE:ERF)

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