Enerplus (NYSE:ERF) Shares Up 5.3%

Enerplus Corp (NYSE:ERF) (TSE:ERF) shot up 5.3% on Friday . The stock traded as high as $6.53 and last traded at $6.50, 1,059,088 shares traded hands during mid-day trading. An increase of 27% from the average session volume of 835,749 shares. The stock had previously closed at $6.17.

A number of brokerages have recently commented on ERF. CIBC set a $15.00 price target on Enerplus and gave the company a “buy” rating in a report on Friday, August 9th. Zacks Investment Research lowered Enerplus from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. GMP Securities reissued an “average” rating and set a $16.00 price target on shares of Enerplus in a report on Friday, June 28th. Raymond James reissued an “average” rating and set a $21.50 price target on shares of Enerplus in a report on Monday, May 13th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Enerplus in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Enerplus presently has an average rating of “Hold” and a consensus target price of $15.46.

The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 5.96 and a beta of 1.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 1.37. The business has a fifty day moving average price of $6.74 and a 200 day moving average price of $7.92.

Enerplus (NYSE:ERF) (TSE:ERF) last issued its quarterly earnings results on Friday, August 9th. The oil and natural gas company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Enerplus had a return on equity of 18.00% and a net margin of 35.14%. The company had revenue of $240.33 million for the quarter, compared to analyst estimates of $232.00 million. During the same period last year, the company earned $0.05 earnings per share. Research analysts anticipate that Enerplus Corp will post 0.83 earnings per share for the current year.

The company also recently announced a monthly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a dividend of $0.008 per share. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $0.10 annualized dividend and a yield of 1.48%. This is a boost from Enerplus’s previous monthly dividend of $0.01. Enerplus’s dividend payout ratio (DPR) is currently 8.26%.

A number of hedge funds have recently made changes to their positions in ERF. Norges Bank bought a new position in Enerplus during the fourth quarter valued at about $26,268,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Enerplus during the first quarter valued at about $26,013,000. Caymus Capital Partners L.P. bought a new position in Enerplus during the second quarter valued at about $9,963,000. Toronto Dominion Bank boosted its stake in Enerplus by 415.9% during the second quarter. Toronto Dominion Bank now owns 1,377,948 shares of the oil and natural gas company’s stock valued at $11,323,000 after buying an additional 1,110,866 shares in the last quarter. Finally, Ninepoint Partners LP bought a new position in Enerplus during the second quarter valued at about $7,530,000. 60.70% of the stock is owned by institutional investors and hedge funds.

Enerplus Company Profile (NYSE:ERF)

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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