Zacks Investment Research upgraded shares of Enerplus (NYSE:ERF) (TSE:ERF) from a sell rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “Enerplus Corporation, formerly known as Enerplus Resources, is an independent oil and gas production company with resources across Western Canada and the United States. The Company’s resource plays include shallow gas/coal bed methane, tight gas, crude oil waterfloods, Bakken/Tight oil and oil sands located in British Columbia, Alberta, Saskatchewan and Manitoba. Enerplus Corporation is based in Alberta, Canada. “
A number of other brokerages also recently commented on ERF. ValuEngine downgraded Enerplus from a hold rating to a sell rating in a research report on Wednesday, October 24th. SunTrust Banks set a $15.00 price objective on Enerplus and gave the stock a buy rating in a research report on Tuesday, November 27th. TheStreet downgraded Enerplus from a c rating to a d+ rating in a research report on Thursday, August 16th. Finally, Raymond James reissued a buy rating and set a $25.50 price objective on shares of Enerplus in a research report on Monday, December 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Enerplus currently has a consensus rating of Hold and a consensus price target of $17.63.
Shares of Enerplus stock opened at $9.16 on Tuesday. Enerplus has a one year low of $8.25 and a one year high of $13.87. The stock has a market cap of $2.20 billion, a PE ratio of 13.48 and a beta of 1.54. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.20 and a quick ratio of 1.20.
Enerplus (NYSE:ERF) (TSE:ERF) last announced its quarterly earnings data on Friday, November 9th. The oil and natural gas company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). Enerplus had a return on equity of 12.80% and a net margin of 13.12%. The company had revenue of $244.50 million for the quarter, compared to analyst estimates of $264.36 million. On average, sell-side analysts predict that Enerplus will post 0.61 earnings per share for the current year.
The firm also recently declared a monthly dividend, which will be paid on Friday, December 14th. Investors of record on Thursday, November 29th will be issued a $0.0076 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Wednesday, November 28th. Enerplus’s dividend payout ratio (DPR) is 11.25%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank boosted its holdings in Enerplus by 181.3% in the second quarter. Toronto Dominion Bank now owns 660,620 shares of the oil and natural gas company’s stock valued at $8,290,000 after purchasing an additional 425,807 shares in the last quarter. Intact Investment Management Inc. boosted its holdings in Enerplus by 4.7% in the third quarter. Intact Investment Management Inc. now owns 2,479,950 shares of the oil and natural gas company’s stock valued at $39,456,000 after purchasing an additional 110,800 shares in the last quarter. Highstreet Asset Management Inc. acquired a new position in Enerplus in the third quarter valued at approximately $3,283,000. JCIC Asset Management Inc. boosted its holdings in Enerplus by 19.7% in the second quarter. JCIC Asset Management Inc. now owns 534,252 shares of the oil and natural gas company’s stock valued at $6,745,000 after purchasing an additional 88,040 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in Enerplus by 0.9% in the third quarter. Bank of Montreal Can now owns 1,628,577 shares of the oil and natural gas company’s stock valued at $20,097,000 after purchasing an additional 15,029 shares in the last quarter. 53.81% of the stock is owned by hedge funds and other institutional investors.
Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. Its crude oil properties are located in the Fort Berthold region of North Dakota and the Elm Coulee field in Richland County, Montana; and crude oil Waterfloods in Alberta and Saskatchewan, Canada.
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