Enerplus Corporation (NYSE:ERF) (TSE:ERF) was the recipient of a large increase in short interest during the month of September. As of September 29th, there was short interest totalling 4,332,602 shares, an increase of 58.6% from the September 15th total of 2,731,002 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average trading volume of 1,368,597 shares, the days-to-cover ratio is currently 3.2 days.
Shares of Enerplus Corporation (ERF) opened at 8.85 on Friday. The stock has a market cap of $2.14 billion, a PE ratio of 2.83 and a beta of 1.39. Enerplus Corporation has a 12 month low of $6.26 and a 12 month high of $10.33. The firm has a 50-day moving average price of $9.22 and a 200-day moving average price of $8.50.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last issued its earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.16. Enerplus Corporation had a net margin of 103.80% and a return on equity of 7.91%. The company had revenue of $191.57 million during the quarter, compared to analysts’ expectations of $257.94 million. During the same period last year, the company posted ($0.77) earnings per share. Equities analysts forecast that Enerplus Corporation will post $0.91 EPS for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 30th will be paid a dividend of $0.008 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.09%. This is a boost from Enerplus Corporation’s previous monthly dividend of $0.01. The ex-dividend date of this dividend is Friday, October 27th. Enerplus Corporation’s dividend payout ratio (DPR) is 3.48%.
A number of analysts recently weighed in on the company. Zacks Investment Research downgraded Enerplus Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Capital One Financial Corporation began coverage on Enerplus Corporation in a research note on Tuesday, July 11th. They issued an “overweight” rating and a $13.00 price target on the stock. Scotiabank reaffirmed a “buy” rating and issued a $16.00 price target on shares of Enerplus Corporation in a research note on Tuesday, October 10th. ValuEngine raised Enerplus Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, CIBC assumed coverage on Enerplus Corporation in a research report on Wednesday, October 18th. They set a “sector outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $14.80.
Institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank increased its stake in shares of Enerplus Corporation by 1.3% during the 1st quarter. Comerica Bank now owns 13,775 shares of the oil and natural gas company’s stock worth $101,000 after purchasing an additional 180 shares in the last quarter. Private Capital Management Inc. purchased a new position in shares of Enerplus Corporation during the 2nd quarter worth approximately $122,000. ETRADE Capital Management LLC increased its stake in shares of Enerplus Corporation by 5.8% during the 2nd quarter. ETRADE Capital Management LLC now owns 15,052 shares of the oil and natural gas company’s stock worth $122,000 after purchasing an additional 822 shares in the last quarter. Creative Planning increased its stake in shares of Enerplus Corporation by 40.5% during the 2nd quarter. Creative Planning now owns 17,605 shares of the oil and natural gas company’s stock worth $143,000 after purchasing an additional 5,074 shares in the last quarter. Finally, Pacad Investment Ltd. increased its stake in shares of Enerplus Corporation by 69.0% during the 2nd quarter. Pacad Investment Ltd. now owns 20,108 shares of the oil and natural gas company’s stock worth $163,000 after purchasing an additional 8,208 shares in the last quarter. 50.95% of the stock is owned by institutional investors and hedge funds.
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Enerplus Corporation Company Profile
Enerplus Corporation is an oil and natural gas company. The Company’s oil and natural gas property interests are located in the United States, primarily in North Dakota, Montana, and Pennsylvania, as well as in western Canada in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s oil and natural gas property interests contains proved plus probable gross reserves of approximately 14.3 million barrels (MMbbls) of light and medium crude oil, 39.0 MMbbls of heavy crude oil, 123 MMbbls of tight oil, 18.1 MMbbls of natural gas liquids (NGLs), 126.3 billion cubic feet (Bcf) of conventional natural gas and 1,002.8 Bcf of shale gas, for a total of approximately 382.5 million barrels of oil equivalent (MMBOE).
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