Zacks Investment Research cut shares of Enerplus Corporation (NYSE:ERF) (TSE:ERF) from a hold rating to a sell rating in a research note issued to investors on Tuesday.
According to Zacks, “Enerplus Corporation, formerly known as Enerplus Resources, is an independent oil and gas production company with resources across Western Canada and the United States. The Company’s resource plays include shallow gas/coal bed methane, tight gas, crude oil waterfloods, Bakken/Tight oil and oil sands located in British Columbia, Alberta, Saskatchewan and Manitoba. Enerplus Corporation is based in Alberta, Canada. “
ERF has been the topic of a number of other research reports. ValuEngine raised Enerplus Corporation from a sell rating to a hold rating in a research note on Thursday, July 13th. BidaskClub raised Enerplus Corporation from a sell rating to a hold rating in a research note on Friday, June 30th. Canaccord Genuity reissued a buy rating and set a $16.00 price target on shares of Enerplus Corporation in a research note on Monday, May 8th. Finally, Capital One Financial Corporation began coverage on Enerplus Corporation in a research note on Tuesday, July 11th. They set an overweight rating and a $13.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Enerplus Corporation currently has an average rating of Hold and a consensus price target of $13.40.
Shares of Enerplus Corporation (ERF) opened at 9.00 on Tuesday. The firm’s 50-day moving average price is $8.62 and its 200 day moving average price is $8.30. The firm has a market cap of $2.18 billion, a PE ratio of 2.97 and a beta of 1.40. Enerplus Corporation has a 1-year low of $5.61 and a 1-year high of $10.33.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last issued its quarterly earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.16. Enerplus Corporation had a return on equity of 7.91% and a net margin of 103.80%. The company had revenue of $191.57 million for the quarter, compared to analyst estimates of $257.94 million. During the same quarter in the prior year, the company posted ($0.77) EPS. On average, equities research analysts forecast that Enerplus Corporation will post $0.92 EPS for the current fiscal year.
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The company also recently disclosed a monthly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a dividend of $0.0079 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.06%. Enerplus Corporation’s payout ratio is 3.14%.
Several hedge funds have recently added to or reduced their stakes in the company. Comerica Bank increased its stake in Enerplus Corporation by 1.3% in the first quarter. Comerica Bank now owns 13,775 shares of the oil and natural gas company’s stock worth $101,000 after buying an additional 180 shares during the last quarter. World Asset Management Inc increased its stake in Enerplus Corporation by 3.9% in the first quarter. World Asset Management Inc now owns 14,959 shares of the oil and natural gas company’s stock worth $120,000 after buying an additional 568 shares during the last quarter. Private Capital Management Inc. purchased a new stake in Enerplus Corporation during the second quarter worth approximately $122,000. ETRADE Capital Management LLC increased its stake in Enerplus Corporation by 5.8% in the second quarter. ETRADE Capital Management LLC now owns 15,052 shares of the oil and natural gas company’s stock worth $122,000 after buying an additional 822 shares during the last quarter. Finally, Creative Planning increased its stake in Enerplus Corporation by 40.5% in the second quarter. Creative Planning now owns 17,605 shares of the oil and natural gas company’s stock worth $143,000 after buying an additional 5,074 shares during the last quarter. Institutional investors and hedge funds own 49.32% of the company’s stock.
Enerplus Corporation 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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