Enerplus (NYSE:ERF) Receives New Coverage from Analysts at Barclays

Barclays began coverage on shares of Enerplus (NYSE:ERFGet Rating) (TSE:ERF) in a research note issued to investors on Wednesday, The Fly reports. The brokerage issued an equal weight rating on the oil and natural gas company’s stock.

A number of other analysts have also weighed in on ERF. Royal Bank of Canada upped their price objective on Enerplus from $19.00 to $20.00 and gave the stock an outperform rating in a research report on Monday, November 7th. National Bankshares cut their price objective on Enerplus from $26.00 to $21.00 in a research report on Friday, September 30th. Scotiabank cut their price objective on Enerplus from C$26.00 to C$25.00 in a research report on Tuesday. StockNews.com assumed coverage on Enerplus in a research report on Wednesday, October 12th. They set a buy rating on the stock. Finally, Stifel Nicolaus upped their price objective on Enerplus from C$32.00 to C$33.00 in a research report on Monday, November 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Enerplus has an average rating of Moderate Buy and a consensus target price of $24.75.

Enerplus Stock Down 1.3 %

Shares of NYSE ERF opened at $17.35 on Wednesday. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 5.90 and a beta of 2.22. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.38. Enerplus has a 52-week low of $10.21 and a 52-week high of $19.23. The business’s 50 day moving average is $17.44 and its two-hundred day moving average is $15.73.

Enerplus (NYSE:ERFGet Rating) (TSE:ERF) last announced its earnings results on Thursday, November 3rd. The oil and natural gas company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). The firm had revenue of $720.53 million during the quarter. Enerplus had a net margin of 34.14% and a return on equity of 88.11%. Research analysts predict that Enerplus will post 3.12 EPS for the current year.

Enerplus Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th were issued a dividend of $0.055 per share. This is a positive change from Enerplus’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, November 29th. This represents a $0.22 annualized dividend and a dividend yield of 1.27%. Enerplus’s dividend payout ratio (DPR) is presently 7.48%.

Hedge Funds Weigh In On Enerplus

Hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank grew its holdings in shares of Enerplus by 294.0% during the second quarter. Toronto Dominion Bank now owns 763,890 shares of the oil and natural gas company’s stock worth $10,094,000 after purchasing an additional 570,031 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Enerplus by 66.8% during the second quarter. Renaissance Technologies LLC now owns 1,582,146 shares of the oil and natural gas company’s stock worth $20,929,000 after purchasing an additional 633,646 shares during the last quarter. Ninepoint Partners LP boosted its stake in shares of Enerplus by 5.3% during the second quarter. Ninepoint Partners LP now owns 10,000,000 shares of the oil and natural gas company’s stock worth $132,300,000 after buying an additional 500,000 shares during the period. Addenda Capital Inc. acquired a new stake in shares of Enerplus during the second quarter worth about $221,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Enerplus during the first quarter worth about $438,000. Hedge funds and other institutional investors own 53.01% of the company’s stock.

Enerplus Company Profile

(Get Rating)

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company's oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.

Recommended Stories

The Fly logo

Analyst Recommendations for Enerplus (NYSE:ERF)

Receive News & Ratings for Enerplus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enerplus and related companies with MarketBeat.com's FREE daily email newsletter.