Enerplus Corporation (NYSE:ERF) (TSE:ERF) announced a monthly dividend on Tuesday, November 21st, Wall Street Journal reports. Shareholders of record on Thursday, November 30th will be given a dividend of 0.0079 per share by the oil and natural gas company on Friday, December 15th. This represents a $0.09 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Wednesday, November 29th.
Enerplus has decreased its dividend by an average of 48.9% annually over the last three years. Enerplus has a payout ratio of 9.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Enerplus to earn $0.74 per share next year, which means the company should continue to be able to cover its $0.09 annual dividend with an expected future payout ratio of 12.2%.
Enerplus (NYSE ERF) traded down $0.12 during trading hours on Thursday, reaching $8.76. The company’s stock had a trading volume of 662,346 shares, compared to its average volume of 1,043,925. Enerplus has a twelve month low of $6.52 and a twelve month high of $10.33. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $2,120.00, a PE ratio of 14.26 and a beta of 1.36.
Several equities research analysts have recently issued reports on the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $16.00 target price on shares of Enerplus in a report on Thursday, November 9th. Zacks Investment Research raised Enerplus from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Monday, November 13th. ValuEngine raised Enerplus from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Scotiabank restated a “buy” rating and set a $16.00 target price on shares of Enerplus in a research report on Tuesday, October 10th. Finally, BidaskClub lowered Enerplus from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $14.20.
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Enerplus 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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