Shares of Enerplus Co. (NYSE:ERF – Get Free Report) (TSE:ERF) have been assigned an average rating of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $21.38.
ERF has been the subject of several research analyst reports. Raymond James boosted their price objective on Enerplus from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, September 8th. TD Securities upped their price target on shares of Enerplus from $17.50 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 10th. National Bank Financial upped their target price on shares of Enerplus from $23.00 to $25.00 in a research note on Thursday, October 12th. BMO Capital Markets upped their target price on shares of Enerplus from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, August 10th. Finally, Royal Bank of Canada upped their price objective on Enerplus from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th.
Enerplus Stock Down 0.8 %
Enerplus Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.24 annualized dividend and a yield of 1.49%. Enerplus’s dividend payout ratio (DPR) is presently 7.72%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. acquired a new stake in shares of Enerplus in the 4th quarter valued at approximately $35,000. Global Retirement Partners LLC acquired a new stake in Enerplus in the third quarter valued at $36,000. Belpointe Asset Management LLC lifted its stake in Enerplus by 80.3% in the 1st quarter. Belpointe Asset Management LLC now owns 2,559 shares of the oil and natural gas company’s stock valued at $37,000 after purchasing an additional 1,140 shares during the last quarter. Quantbot Technologies LP bought a new position in Enerplus during the first quarter worth about $37,000. Finally, IAG Wealth Partners LLC acquired a new position in Enerplus during the third quarter worth approximately $38,000. 56.60% of the stock is owned by institutional investors and hedge funds.
Enerplus Company Profile
Enerplus Corporation, together with subsidiaries, acquires, develops, and explores crude oil and natural gas in the United States. Its oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania. Enerplus Corporation was founded in 1986 and is headquartered in Calgary, Canada.
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