Enerplus (NYSE:ERF) Trading Up 3.4%

Enerplus Co. (NYSE:ERF) (TSE:ERF) shares were up 3.4% during mid-day trading on Friday . The stock traded as high as $11.71 and last traded at $11.71. Approximately 8,100 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 2,512,262 shares. The stock had previously closed at $11.33.

Several analysts have issued reports on ERF shares. Desjardins boosted their target price on Enerplus from C$16.00 to C$17.00 and gave the company a “buy” rating in a research note on Tuesday, November 9th. TD Securities boosted their target price on Enerplus from C$13.00 to C$14.00 and gave the company a “buy” rating in a research note on Friday, November 5th. Raymond James boosted their target price on Enerplus from C$15.00 to C$15.50 and gave the company an “outperform” rating in a research note on Friday, November 5th. National Bank Financial lifted their price target on Enerplus from C$13.50 to C$17.00 and gave the company an “outperform” rating in a research report on Wednesday, September 29th. Finally, Scotiabank cut Enerplus from an “outperform” rating to a “sector perform” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Enerplus currently has an average rating of “Buy” and a consensus price target of $14.00.

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.45 and a current ratio of 0.45. The business has a 50 day moving average price of $10.27 and a two-hundred day moving average price of $8.15. The company has a market cap of $2.84 billion, a P/E ratio of -22.22 and a beta of 2.94.

Enerplus (NYSE:ERF) (TSE:ERF) last released its quarterly earnings results on Thursday, November 4th. The oil and natural gas company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.06). The business had revenue of $359.21 million for the quarter. Enerplus had a negative net margin of 9.79% and a positive return on equity of 41.37%. As a group, research analysts expect that Enerplus Co. will post 1.21 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Tuesday, November 30th were issued a dividend of $0.033 per share. This is an increase from Enerplus’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Monday, November 29th. This represents a $0.13 dividend on an annualized basis and a dividend yield of 1.14%. Enerplus’s dividend payout ratio is -25.49%.

Several hedge funds have recently bought and sold shares of ERF. Citigroup Inc. raised its holdings in Enerplus by 17.5% in the 3rd quarter. Citigroup Inc. now owns 8,558 shares of the oil and natural gas company’s stock worth $68,000 after purchasing an additional 1,277 shares during the period. Blueshift Asset Management LLC bought a new stake in Enerplus in the third quarter worth about $89,000. Bridgefront Capital LLC bought a new stake in shares of Enerplus during the second quarter valued at approximately $114,000. qPULA Trading Management LP bought a new position in Enerplus in the third quarter worth approximately $134,000. Finally, HighTower Advisors LLC raised its stake in Enerplus by 10.8% in the second quarter. HighTower Advisors LLC now owns 18,291 shares of the oil and natural gas company’s stock worth $130,000 after buying an additional 1,776 shares in the last quarter. Hedge funds and other institutional investors own 50.70% of the company’s stock.

Enerplus Company Profile (NYSE:ERF)

Enerplus Corp. engages in the exploration and production of crude oil and natural gas. It conducts operations in Willston Basin, Marcellus Shale, and Canadian Waterfloods. The company was founded in 1986 and is headquartered in Calgary, Canada.

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