Desjardins reiterated their buy rating on shares of Enerplus (NYSE:ERF) (TSE:ERF) in a research note published on Monday, TipRanks reports.
A number of other analysts have also recently weighed in on the company. GMP Securities reiterated an average rating and issued a $16.00 price target on shares of Enerplus in a research report on Friday, June 28th. Raymond James restated an average rating and set a $21.50 target price on shares of Enerplus in a report on Monday, May 13th. CIBC set a $15.00 target price on Enerplus and gave the stock a buy rating in a report on Friday, August 9th. Zacks Investment Research cut Enerplus from a hold rating to a strong sell rating in a report on Tuesday. Finally, Royal Bank of Canada restated a buy rating on shares of Enerplus in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Enerplus has a consensus rating of Hold and a consensus target price of $15.46.
Shares of NYSE:ERF opened at $6.17 on Monday. The business’s fifty day moving average price is $6.77 and its two-hundred day moving average price is $7.93. Enerplus has a fifty-two week low of $5.50 and a fifty-two week high of $12.92. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 5.66 and a beta of 1.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 1.37.
Enerplus (NYSE:ERF) (TSE:ERF) last announced its quarterly earnings results on Friday, August 9th. The oil and natural gas company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Enerplus had a return on equity of 18.00% and a net margin of 35.14%. The firm had revenue of $240.33 million for the quarter, compared to analysts’ expectations of $232.00 million. During the same period in the prior year, the business posted $0.05 earnings per share. Research analysts expect that Enerplus will post 0.83 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a dividend of $0.008 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Tuesday, July 30th. This is a positive change from Enerplus’s previous monthly dividend of $0.01. Enerplus’s dividend payout ratio is 8.26%.
Several institutional investors and hedge funds have recently modified their holdings of ERF. Norges Bank acquired a new position in shares of Enerplus during the fourth quarter valued at $26,268,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in shares of Enerplus during the first quarter valued at $26,013,000. Caymus Capital Partners L.P. acquired a new position in shares of Enerplus during the second quarter valued at $9,963,000. Toronto Dominion Bank lifted its stake in shares of Enerplus by 415.9% during the second quarter. Toronto Dominion Bank now owns 1,377,948 shares of the oil and natural gas company’s stock valued at $11,323,000 after acquiring an additional 1,110,866 shares during the period. Finally, Ninepoint Partners LP acquired a new position in shares of Enerplus during the second quarter valued at $7,530,000. 60.70% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading: What are the reasons investors use put options?
Receive News & Ratings for Enerplus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enerplus and related companies with MarketBeat.com's FREE daily email newsletter.