Enerplus (ERF) Issues Earnings Results, Misses Expectations By $0.01 EPS

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Enerplus (NYSE:ERF) (TSE:ERF) released its quarterly earnings results on Friday. The oil and natural gas company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01), MarketWatch Earnings reports. Enerplus had a net margin of 7.88% and a return on equity of 8.84%.

Shares of ERF stock opened at $9.76 on Friday. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 12.20 and a beta of 1.55. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. Enerplus has a 1-year low of $8.25 and a 1-year high of $13.87.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Tuesday, October 30th will be issued a dividend of $0.0077 per share. This is a positive change from Enerplus’s previous monthly dividend of $0.01. This represents a $0.09 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Monday, October 29th. Enerplus’s dividend payout ratio (DPR) is currently 11.25%.

A number of hedge funds have recently made changes to their positions in ERF. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Enerplus by 27.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,673,724 shares of the oil and natural gas company’s stock worth $172,344,000 after acquiring an additional 2,973,325 shares in the last quarter. PCJ Investment Counsel Ltd. acquired a new position in Enerplus during the 2nd quarter worth $28,033,000. Segall Bryant & Hamill LLC acquired a new position in Enerplus during the 2nd quarter worth $24,701,000. AGF Investments Inc. grew its holdings in Enerplus by 2,280.8% during the 3rd quarter. AGF Investments Inc. now owns 1,130,861 shares of the oil and natural gas company’s stock worth $13,964,000 after acquiring an additional 1,083,361 shares in the last quarter. Finally, Penn Capital Management Co. Inc. acquired a new position in Enerplus during the 2nd quarter worth $12,957,000. 51.28% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on ERF shares. ValuEngine lowered shares of Enerplus from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Zacks Investment Research raised shares of Enerplus from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Wednesday, October 10th. Finally, TheStreet lowered shares of Enerplus from a “c” rating to a “d+” rating in a report on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Enerplus presently has an average rating of “Hold” and an average price target of $16.00.

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Enerplus Company Profile

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. Its crude oil properties are located in the Fort Berthold region of North Dakota and the Elm Coulee field in Richland County, Montana; and crude oil Waterfloods in Alberta and Saskatchewan, Canada.

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Earnings History for Enerplus (NYSE:ERF)

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