Enerplus Co. (NYSE:ERF) Announces $0.07 Quarterly Dividend

Enerplus Co. (NYSE:ERFGet Free Report) (TSE:ERF) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders of record on Wednesday, May 22nd will be given a dividend of 0.065 per share by the oil and natural gas company on Tuesday, June 4th. This represents a $0.26 annualized dividend and a yield of 1.30%. The ex-dividend date is Tuesday, May 21st.

Enerplus has raised its dividend payment by an average of 37.4% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Enerplus has a dividend payout ratio of 12.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Enerplus to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 12.1%.

Enerplus Trading Up 0.8 %

NYSE:ERF opened at $20.00 on Friday. Enerplus has a 52 week low of $13.46 and a 52 week high of $20.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.70 and a current ratio of 0.70. The firm’s fifty day moving average is $19.69 and its 200-day moving average is $17.06. The firm has a market cap of $4.09 billion, a P/E ratio of 11.11 and a beta of 1.97.

Enerplus (NYSE:ERFGet Free Report) (TSE:ERF) last released its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $437.10 million for the quarter. Enerplus had a net margin of 24.09% and a return on equity of 33.88%. Equities analysts expect that Enerplus will post 1.9 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. TD Securities upped their target price on Enerplus from $19.07 to $20.09 and gave the company a “sell” rating in a research report on Thursday, May 9th. Royal Bank of Canada lowered Enerplus from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $21.00 to $22.00 in a research note on Monday, April 29th. Finally, StockNews.com started coverage on shares of Enerplus in a research report on Thursday. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.87.

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About Enerplus

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Enerplus Corporation, together with its subsidiaries, explores and develops crude oil and natural gas in the United States. Its oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania. The company was founded in 1986 and is headquartered in Calgary, Canada.

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Dividend History for Enerplus (NYSE:ERF)

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