Enerplus Corp. (ERF) Trading Down 7.5%

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Enerplus Corp. (NYSE:ERF)’s share price dropped 7.5% during mid-day trading on Tuesday . The company traded as low as $6.11 and last traded at $6.13, with a volume of 650,277 shares. The stock had previously closed at $6.63.
ERF has been the subject of a number of recent research reports. Raymond James Financial Inc. initiated coverage on shares of Enerplus Corp. in a research note on Monday, June 6th. They set an “outperform” rating for the company. Zacks Investment Research upgraded shares of Enerplus Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, May 24th. Macquarie upgraded shares of Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research note on Monday, June 6th. Canaccord Genuity initiated coverage on shares of Enerplus Corp. in a research note on Wednesday, August 17th. They set a “buy” rating for the company. Finally, Credit Suisse Group AG restated a “buy” rating and set a $11.00 price objective on shares of Enerplus Corp. in a research note on Wednesday, June 22nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $9.00.
The stock’s market capitalization is $1.48 billion. The stock’s 50 day moving average is $6.76 and its 200 day moving average is $5.47.

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Enerplus Corp. (NYSE:ERF) last posted its quarterly earnings results on Friday, August 5th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.10) by $0.67. Enerplus Corp. had a negative net margin of 155.95% and a negative return on equity of 60.19%. The company earned $152.40 million during the quarter, compared to the consensus estimate of $158.40 million. During the same period last year, the firm posted ($1.52) earnings per share. Analysts predict that Enerplus Corp. will post ($0.96) earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be paid a $0.0077 dividend. This represents a $0.09 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Monday, August 29th. Enerplus Corp.’s dividend payout ratio (DPR) is currently -1.97%.
A number of large investors have recently bought and sold shares of ERF. Hillsdale Investment Management Inc. bought a new stake in Enerplus Corp. during the second quarter valued at $12,034,000. Legal & General Group Plc increased its stake in Enerplus Corp. by 34.8% in the second quarter. Legal & General Group Plc now owns 560,475 shares of the company’s stock valued at $3,673,000 after buying an additional 144,668 shares during the period. Numeric Investors LLC bought a new stake in Enerplus Corp. during the second quarter valued at $392,000. Westwood Holdings Group Inc. increased its stake in Enerplus Corp. by 87.7% in the second quarter. Westwood Holdings Group Inc. now owns 39,600 shares of the company’s stock valued at $260,000 after buying an additional 18,500 shares during the period. Finally, Jane Street Group LLC bought a new stake in Enerplus Corp. during the second quarter valued at $204,000. 43.25% of the stock is owned by hedge funds and other institutional investors.
Enerplus Corp. Company Profile
Enerplus Corporation is an energy producer. The Company’s capital program is focused on the development of its crude oil and natural gas core areas of operation, which includes its North Dakota and Montana crude oil assets in the Williston Basin, and its natural gas interests in northeast Pennsylvania.

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