Grace & White Inc. NY lowered its stake in shares of Enerplus Co. (NYSE:ERF – Get Rating) (TSE:ERF) by 19.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 169,766 shares of the oil and natural gas company’s stock after selling 40,900 shares during the quarter. Grace & White Inc. NY owned approximately 0.07% of Enerplus worth $2,156,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in Enerplus by 167.0% during the fourth quarter. Millennium Management LLC now owns 2,443,309 shares of the oil and natural gas company’s stock worth $25,847,000 after purchasing an additional 1,528,379 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Enerplus by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,205,807 shares of the oil and natural gas company’s stock worth $9,646,000 after purchasing an additional 30,753 shares in the last quarter. CoreCommodity Management LLC raised its holdings in Enerplus by 91.5% during the fourth quarter. CoreCommodity Management LLC now owns 145,475 shares of the oil and natural gas company’s stock worth $1,539,000 after purchasing an additional 69,490 shares in the last quarter. National Bank of Canada FI acquired a new stake in Enerplus during the fourth quarter worth approximately $5,908,000. Finally, Lion Point Capital LP acquired a new position in shares of Enerplus in the 4th quarter valued at $6,083,000. 52.86% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on ERF shares. National Bank Financial lifted their target price on shares of Enerplus from $24.00 to $29.00 in a report on Thursday, June 16th. StockNews.com cut shares of Enerplus from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 1st. Royal Bank of Canada lifted their target price on shares of Enerplus from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Monday, May 9th. Stifel Nicolaus lifted their target price on shares of Enerplus from C$29.00 to C$30.00 in a report on Thursday, June 30th. Finally, Scotiabank raised shares of Enerplus from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, June 8th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $22.50.
Enerplus (NYSE:ERF – Get Rating) (TSE:ERF) last issued its earnings results on Thursday, May 5th. The oil and natural gas company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. The company had revenue of $513.15 million for the quarter. Enerplus had a net margin of 14.62% and a return on equity of 69.73%. As a group, analysts expect that Enerplus Co. will post 3.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, May 27th were given a dividend of $0.043 per share. This is a positive change from Enerplus’s previous quarterly dividend of $0.03. This represents a $0.17 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Thursday, May 26th. Enerplus’s payout ratio is presently 20.73%.
Enerplus Profile (Get Rating)
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, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.
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