Acadian Asset Management LLC cut its position in Enerplus Corporation (NYSE:ERF) (TSE:ERF) by 57.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,206,679 shares of the oil and natural gas company’s stock after selling 1,604,634 shares during the period. Acadian Asset Management LLC owned 0.50% of Enerplus Corporation worth $9,774,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. Bank of Montreal Can raised its stake in shares of Enerplus Corporation by 23.1% in the second quarter. Bank of Montreal Can now owns 2,830,308 shares of the oil and natural gas company’s stock valued at $22,983,000 after buying an additional 530,278 shares during the last quarter. Shell Asset Management Co. raised its stake in shares of Enerplus Corporation by 11.5% in the first quarter. Shell Asset Management Co. now owns 23,200 shares of the oil and natural gas company’s stock valued at $248,000 after buying an additional 2,400 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Enerplus Corporation by 12.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 372,751 shares of the oil and natural gas company’s stock valued at $3,542,000 after buying an additional 40,643 shares during the last quarter. Norges Bank purchased a new stake in shares of Enerplus Corporation during the fourth quarter valued at approximately $27,761,000. Finally, KAMES CAPITAL plc purchased a new stake in shares of Enerplus Corporation during the second quarter valued at approximately $662,000. 49.32% of the stock is owned by institutional investors and hedge funds.
Enerplus Corporation (ERF) traded up 0.90% during midday trading on Friday, hitting $9.00. The company had a trading volume of 756,832 shares. Enerplus Corporation has a 1-year low of $5.61 and a 1-year high of $10.33. The company has a 50 day moving average price of $8.62 and a 200 day moving average price of $8.30. The firm has a market capitalization of $2.18 billion, a P/E ratio of 2.97 and a beta of 1.40.
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, beating the Zacks’ consensus estimate of $0.08 by $0.16. The firm had revenue of $191.57 million for the quarter, compared to analyst estimates of $257.94 million. Enerplus Corporation had a net margin of 103.80% and a return on equity of 7.91%. During the same period last year, the company posted ($0.77) EPS. Equities research analysts forecast that Enerplus Corporation will post $0.92 earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were paid a $0.0079 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, July 27th. Enerplus Corporation’s dividend payout ratio (DPR) is 3.14%.
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Several brokerages recently commented on ERF. Zacks Investment Research raised Enerplus Corporation from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a report on Wednesday, May 10th. ValuEngine upgraded Enerplus Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. BidaskClub upgraded Enerplus Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Canaccord Genuity reiterated a “buy” rating and set a $16.00 target price on shares of Enerplus Corporation in a research report on Monday, May 8th. Finally, Capital One Financial Corporation started coverage on Enerplus Corporation in a research report on Tuesday, July 11th. They set an “overweight” rating and a $13.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $13.40.
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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