Wall Street brokerages expect that Enerplus Corp (NYSE:ERF) (TSE:ERF) will post $264.36 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Enerplus’ earnings. The highest sales estimate is $282.72 million and the lowest is $246.00 million. Enerplus posted sales of $129.08 million during the same quarter last year, which would suggest a positive year over year growth rate of 104.8%. The firm is expected to issue its next earnings results before the market opens on Friday, November 9th.
According to Zacks, analysts expect that Enerplus will report full year sales of $1.08 billion for the current year, with estimates ranging from $910.00 million to $1.29 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.34 billion, with estimates ranging from $1.16 billion to $1.51 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Enerplus.
Enerplus (NYSE:ERF) (TSE:ERF) last released its quarterly earnings results on Friday, August 10th. The oil and natural gas company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.20). The firm had revenue of $183.23 million for the quarter, compared to the consensus estimate of $241.51 million. Enerplus had a return on equity of 8.84% and a net margin of 7.88%. During the same quarter in the prior year, the company posted $0.53 EPS.
Several equities analysts have recently commented on ERF shares. Zacks Investment Research upgraded shares of Enerplus from a “sell” rating to a “hold” rating in a research report on Monday, July 9th. TheStreet lowered shares of Enerplus from a “c” rating to a “d+” rating in a research report on Thursday, August 16th. Four research analysts have rated the stock with a buy rating, Enerplus has an average rating of “Buy” and an average price target of $16.00.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in Enerplus by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,482,563 shares of the oil and natural gas company’s stock valued at $16,694,000 after buying an additional 4,509 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Enerplus by 53.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 14,874 shares of the oil and natural gas company’s stock valued at $188,000 after buying an additional 5,206 shares in the last quarter. CIBC Asset Management Inc grew its position in Enerplus by 3.5% in the 2nd quarter. CIBC Asset Management Inc now owns 172,226 shares of the oil and natural gas company’s stock valued at $2,172,000 after buying an additional 5,796 shares in the last quarter. Creative Planning grew its position in Enerplus by 72.2% in the 2nd quarter. Creative Planning now owns 19,174 shares of the oil and natural gas company’s stock valued at $242,000 after buying an additional 8,040 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware bought a new position in Enerplus in the 2nd quarter valued at about $105,000. Hedge funds and other institutional investors own 50.99% of the company’s stock.
Enerplus stock opened at $10.76 on Friday. The stock has a market cap of $2.60 billion, a PE ratio of 13.45 and a beta of 1.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. Enerplus has a one year low of $8.23 and a one year high of $13.87.
The business also recently announced a monthly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a $0.0077 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Thursday, September 27th. This is a positive change from Enerplus’s previous monthly dividend of $0.01. Enerplus’s dividend payout ratio is currently 11.25%.
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. 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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