Enerplus Corp (NYSE:ERF) (TSE:ERF) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $16.25.
A number of analysts have issued reports on ERF shares. Royal Bank of Canada reaffirmed a “buy” rating on shares of Enerplus in a report on Friday, August 9th. CIBC set a $15.00 target price on Enerplus and gave the company a “buy” rating in a report on Friday, August 9th. Zacks Investment Research raised Enerplus from a “strong sell” rating to a “hold” rating in a report on Monday, September 9th. Capital One Financial raised Enerplus from an “equal weight” rating to an “overweight” rating and set a $12.00 target price on the stock in a report on Friday, September 27th. Finally, Desjardins reaffirmed a “buy” rating on shares of Enerplus in a report on Monday, August 12th.
Large investors have recently made changes to their positions in the company. Lindbrook Capital LLC grew its holdings in shares of Enerplus by 78.5% during the 2nd quarter. Lindbrook Capital LLC now owns 3,876 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 1,704 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Enerplus during the 2nd quarter worth approximately $86,000. Commonwealth Equity Services LLC acquired a new stake in shares of Enerplus during the 2nd quarter worth approximately $86,000. Jane Street Group LLC acquired a new stake in shares of Enerplus during the 2nd quarter worth approximately $102,000. Finally, Atria Investments LLC acquired a new stake in shares of Enerplus during the 2nd quarter worth approximately $93,000. 59.47% of the stock is currently owned by institutional investors.
Enerplus (NYSE:ERF) (TSE:ERF) last released its earnings results on Friday, August 9th. The oil and natural gas company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.09. The firm had revenue of $240.33 million for the quarter, compared to analyst estimates of $232.00 million. Enerplus had a return on equity of 18.02% and a net margin of 35.14%. During the same quarter last year, the firm posted $0.05 EPS. Sell-side analysts expect that Enerplus will post 0.81 earnings per share for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.008 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, September 27th. Enerplus’s payout ratio is presently 8.26%.
Enerplus Company Profile
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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