Enerplus Co. (NYSE:ERF) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lowered its position in shares of Enerplus Co. (NYSE:ERFFree Report) (TSE:ERF) by 34.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380,887 shares of the oil and natural gas company’s stock after selling 201,692 shares during the quarter. Bank of Nova Scotia owned approximately 0.19% of Enerplus worth $5,841,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of Enerplus in the fourth quarter valued at approximately $29,000. Employees Retirement System of Texas acquired a new stake in Enerplus in the third quarter valued at $52,000. Dynamic Technology Lab Private Ltd acquired a new stake in Enerplus in the fourth quarter valued at $166,000. Navellier & Associates Inc. acquired a new stake in Enerplus in the fourth quarter valued at $171,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Enerplus in the third quarter valued at $179,000. Institutional investors and hedge funds own 58.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ERF shares. Royal Bank of Canada cut Enerplus from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $21.00 to $22.00 in a research note on Monday, April 29th. TD Securities raised their price target on Enerplus from $19.07 to $20.09 and gave the company a “sell” rating in a research note on Thursday, May 9th. Finally, StockNews.com began coverage on Enerplus in a research report on Saturday. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Enerplus has a consensus rating of “Hold” and a consensus target price of $21.87.

Read Our Latest Research Report on ERF

Enerplus Price Performance

ERF opened at $20.09 on Wednesday. The business’s 50-day simple moving average is $20.06 and its 200-day simple moving average is $17.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.70 and a current ratio of 0.70. Enerplus Co. has a one year low of $13.46 and a one year high of $20.97. The stock has a market capitalization of $4.10 billion, a P/E ratio of 11.16 and a beta of 1.97.

Enerplus (NYSE:ERFGet Free Report) (TSE:ERF) last issued its quarterly earnings results on Wednesday, May 8th. The oil and natural gas company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $362.04 million for the quarter. Enerplus had a return on equity of 33.88% and a net margin of 24.09%. Analysts anticipate that Enerplus Co. will post 1.9 EPS for the current year.

Enerplus Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Thursday, May 30th were given a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, May 30th. Enerplus’s dividend payout ratio (DPR) is presently 14.44%.

Enerplus Profile

(Free Report)

Enerplus Corporation, together with its subsidiaries, explores and develops crude oil and natural gas in the United States. Its oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania. The company was founded in 1986 and is headquartered in Calgary, Canada.

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Institutional Ownership by Quarter for Enerplus (NYSE:ERF)

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