Penn Capital Management Co. Inc. lessened its holdings in Enerplus Corp (NYSE:ERF) (TSE:ERF) by 18.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 806,040 shares of the oil and natural gas company’s stock after selling 176,741 shares during the period. Penn Capital Management Co. Inc.’s holdings in Enerplus were worth $7,486,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc raised its stake in Enerplus by 4.5% in the first quarter. CIBC Asset Management Inc now owns 390,496 shares of the oil and natural gas company’s stock worth $3,273,000 after buying an additional 16,785 shares in the last quarter. Cidel Asset Management Inc. bought a new position in Enerplus in the first quarter worth approximately $148,000. Toronto Dominion Bank raised its stake in Enerplus by 14.3% in the first quarter. Toronto Dominion Bank now owns 267,082 shares of the oil and natural gas company’s stock worth $2,237,000 after buying an additional 33,326 shares in the last quarter. Cetera Advisors LLC raised its stake in Enerplus by 2.1% in the first quarter. Cetera Advisors LLC now owns 101,635 shares of the oil and natural gas company’s stock worth $851,000 after buying an additional 2,115 shares in the last quarter. Finally, South Dakota Investment Council raised its stake in Enerplus by 14.6% in the first quarter. South Dakota Investment Council now owns 559,380 shares of the oil and natural gas company’s stock worth $4,704,000 after buying an additional 71,280 shares in the last quarter. Hedge funds and other institutional investors own 57.31% of the company’s stock.
NYSE ERF opened at $8.90 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.78 and a current ratio of 1.37. Enerplus Corp has a 12-month low of $6.84 and a 12-month high of $13.87. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 8.17 and a beta of 1.65.
Enerplus (NYSE:ERF) (TSE:ERF) last released its quarterly earnings results on Friday, May 10th. The oil and natural gas company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Enerplus had a net margin of 31.33% and a return on equity of 14.62%. The business had revenue of $216.21 million for the quarter, compared to analyst estimates of $215.00 million. During the same period in the previous year, the company earned $0.12 earnings per share. Sell-side analysts anticipate that Enerplus Corp will post 1.05 EPS for the current year.
The company also recently declared a monthly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were issued a $0.0075 dividend. This represents a $0.09 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Monday, April 29th. Enerplus’s dividend payout ratio is currently 8.26%.
ERF has been the subject of a number of recent research reports. Raymond James reissued an “average” rating and issued a $21.50 price objective on shares of Enerplus in a research note on Monday. Canaccord Genuity reaffirmed a “buy” rating and issued a $18.00 price target on shares of Enerplus in a report on Tuesday, April 9th. TheStreet raised shares of Enerplus from a “d+” rating to a “c+” rating in a report on Monday, February 25th. Zacks Investment Research raised shares of Enerplus from a “sell” rating to a “hold” rating in a report on Thursday, February 14th. Finally, ValuEngine lowered shares of Enerplus from a “sell” rating to a “strong sell” rating in a report on Thursday, January 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $16.38.
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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. The company's oil and natural gas properties are located primarily in North Dakota, Montana, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.
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