Enerplus (NYSE:ERF) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Enerplus (NYSE:ERF) (TSE:ERF) announced its quarterly earnings results on Friday. The oil and natural gas company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01), MarketWatch Earnings reports. Enerplus had a net margin of 35.14% and a return on equity of 18.02%. The business had revenue of $256.81 million during the quarter, compared to analysts’ expectations of $251.00 million. During the same quarter in the prior year, the firm earned $0.35 EPS.

NYSE:ERF traded down $0.17 during trading hours on Friday, hitting $6.50. 1,517,441 shares of the stock were exchanged, compared to its average volume of 962,893. Enerplus has a 52-week low of $5.50 and a 52-week high of $10.40. The firm’s fifty day moving average price is $6.79 and its 200 day moving average price is $7.19. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.28. The company has a market cap of $1.50 billion, a P/E ratio of 5.96 and a beta of 1.65.

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.008 per share. The ex-dividend date is Wednesday, October 30th. This represents a $0.10 annualized dividend and a yield of 1.48%. Enerplus’s dividend payout ratio (DPR) is currently 8.26%.

Several equities analysts recently weighed in on ERF shares. Zacks Investment Research lowered Enerplus from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Capital One Financial upgraded Enerplus from an “equal weight” rating to an “overweight” rating and set a $12.00 price target for the company in a research note on Friday, September 27th. Royal Bank of Canada cut their price target on Enerplus from $14.00 to $13.00 in a research note on Friday, October 18th. CIBC set a $15.00 price target on Enerplus and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, ValuEngine lowered Enerplus from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $14.72.

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.

See Also: Leveraged Buyout (LBO)

Earnings History for Enerplus (NYSE:ERF)

Receive News & Ratings for Enerplus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enerplus and related companies with MarketBeat.com's FREE daily email newsletter.