Enerplus Corp (NYSE:ERF) (TSE:ERF) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 5,930,000 shares, an increase of 21.0% from the August 31st total of 4,900,000 shares. Approximately 2.7% of the shares of the company are short sold. Based on an average trading volume of 1,100,000 shares, the short-interest ratio is presently 5.4 days.
A number of hedge funds have recently added to or reduced their stakes in ERF. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Enerplus by 74.0% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 87,000 shares of the oil and natural gas company’s stock worth $243,000 after purchasing an additional 37,000 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Enerplus by 371.2% in the second quarter. Canada Pension Plan Investment Board now owns 1,278,376 shares of the oil and natural gas company’s stock valued at $3,586,000 after purchasing an additional 1,007,076 shares during the period. Man Group plc increased its holdings in Enerplus by 83.8% during the 2nd quarter. Man Group plc now owns 1,939,958 shares of the oil and natural gas company’s stock worth $5,446,000 after purchasing an additional 884,722 shares during the period. River & Mercantile Asset Management LLP lifted its position in shares of Enerplus by 20.1% during the 2nd quarter. River & Mercantile Asset Management LLP now owns 3,007,473 shares of the oil and natural gas company’s stock worth $8,445,000 after purchasing an additional 504,119 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Enerplus by 188.9% in the second quarter. Point72 Asset Management L.P. now owns 7,655,075 shares of the oil and natural gas company’s stock valued at $21,519,000 after purchasing an additional 5,005,075 shares during the last quarter. Institutional investors own 54.90% of the company’s stock.
Enerplus stock traded down $0.06 during trading on Thursday, reaching $1.80. The company had a trading volume of 2,999,836 shares, compared to its average volume of 1,585,745. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm’s 50-day simple moving average is $2.42 and its 200 day simple moving average is $2.43. The firm has a market capitalization of $400.59 million, a price-to-earnings ratio of -0.56 and a beta of 2.97. Enerplus has a 52 week low of $1.15 and a 52 week high of $7.35.
The company also recently announced a monthly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a $0.0076 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.09 dividend on an annualized basis and a yield of 5.07%. This is a positive change from Enerplus’s previous monthly dividend of $0.01. Enerplus’s dividend payout ratio is currently 11.39%.
A number of research analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Enerplus from $4.00 to $5.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Scotiabank boosted their target price on Enerplus from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. ValuEngine raised shares of Enerplus from a “sell” rating to a “hold” rating in a report on Tuesday, August 11th. CIBC upped their price objective on Enerplus from $4.50 to $5.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, Raymond James restated a “hold” rating and issued a $4.50 target price on shares of Enerplus in a research note on Monday, August 10th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Enerplus presently has an average rating of “Buy” and an average price target of $4.50.
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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