South Dakota Investment Council boosted its holdings in shares of Enerplus Corporation (NYSE:ERF) (TSE:ERF) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 728,200 shares of the oil and natural gas company’s stock after purchasing an additional 7,400 shares during the period. South Dakota Investment Council owned about 0.30% of Enerplus Corporation worth $5,913,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can lifted its stake in Enerplus Corporation by 23.1% during the second quarter. Bank of Montreal Can now owns 2,830,308 shares of the oil and natural gas company’s stock worth $22,983,000 after purchasing an additional 530,278 shares during the last quarter. Shell Asset Management Co. increased its holdings in shares of Enerplus Corporation by 11.5% during the first quarter. Shell Asset Management Co. now owns 23,200 shares of the oil and natural gas company’s stock worth $248,000 after buying an additional 2,400 shares in the last quarter. Sentry Investments Corp. acquired a new position in shares of Enerplus Corporation during the second quarter worth $2,885,000. KAMES CAPITAL plc acquired a new position in shares of Enerplus Corporation during the second quarter worth $662,000. Finally, Intact Investment Management Inc. increased its holdings in shares of Enerplus Corporation by 1,293.4% during the second quarter. Intact Investment Management Inc. now owns 1,248,450 shares of the oil and natural gas company’s stock worth $13,050,000 after buying an additional 1,158,850 shares in the last quarter. Hedge funds and other institutional investors own 50.71% of the company’s stock.
Enerplus Corporation (NYSE ERF) traded down 0.42% during mid-day trading on Friday, hitting $9.42. 162,422 shares of the stock were exchanged. Enerplus Corporation has a 52 week low of $5.61 and a 52 week high of $10.33. The stock has a market capitalization of $2.28 billion, a PE ratio of 3.10 and a beta of 1.38. The company has a 50-day moving average of $8.89 and a 200-day moving average of $8.26.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last released its earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.16. Enerplus Corporation had a net margin of 103.80% and a return on equity of 7.91%. The firm had revenue of $191.57 million for the quarter, compared to analyst estimates of $257.94 million. During the same period in the prior year, the firm earned ($0.77) earnings per share. On average, equities analysts predict that Enerplus Corporation will post $0.96 EPS for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.0078 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.09 annualized dividend and a yield of 0.99%. Enerplus Corporation’s dividend payout ratio is currently 3.14%.
ERF has been the subject of a number of recent research reports. Zacks Investment Research downgraded Enerplus Corporation from a “buy” rating to a “hold” rating in a report on Monday, June 5th. Capital One Financial Corporation assumed coverage on shares of Enerplus Corporation in a research report on Tuesday, July 11th. They issued an “overweight” rating and a $13.00 price target on the stock. BidaskClub raised shares of Enerplus Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, ValuEngine raised shares of Enerplus Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average 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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