Enerplus (NYSE:ERF) Reaches New 12-Month High at $20.52

Enerplus Co. (NYSE:ERF - Get Free Report) TSE: ERF shares reached a new 52-week high on Monday . The company traded as high as $20.52 and last traded at $20.31, with a volume of 126457 shares traded. The stock had previously closed at $20.35.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. CIBC lowered their target price on shares of Enerplus from $23.00 to $19.00 and set an "outperform" rating on the stock in a report on Tuesday, January 16th. TD Securities restated a "tender" rating and issued a $18.85 target price (down previously from $21.00) on shares of Enerplus in a report on Thursday, February 22nd. StockNews.com started coverage on shares of Enerplus in a report on Saturday. They issued a "hold" rating on the stock. Finally, National Bankshares reduced their price objective on shares of Enerplus from $25.00 to $21.00 and set an "outperform" rating for the company in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $21.69.

Enerplus Stock Down 0.1 %

The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.09. The stock's 50-day simple moving average is $17.48 and its 200-day simple moving average is $16.46. The firm has a market capitalization of $4.13 billion, a P/E ratio of 9.68 and a beta of 1.99.

Enerplus (NYSE:ERF - Get Free Report) TSE: ERF last released its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. Enerplus had a net margin of 27.67% and a return on equity of 40.36%. The firm had revenue of $437.10 million during the quarter. As a group, research analysts predict that Enerplus Co. will post 1.95 earnings per share for the current fiscal year.

Enerplus Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were given a dividend of $0.13 per share. This is an increase from Enerplus's previous quarterly dividend of $0.06. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Friday, March 1st. Enerplus's dividend payout ratio is currently 12.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ERF. Headlands Technologies LLC bought a new position in Enerplus in the 4th quarter worth approximately $29,000. Bessemer Group Inc. bought a new position in Enerplus in the 4th quarter worth approximately $35,000. Global Retirement Partners LLC bought a new position in Enerplus in the 3rd quarter worth approximately $36,000. Belpointe Asset Management LLC boosted its holdings in Enerplus by 80.3% in the 1st quarter. Belpointe Asset Management LLC now owns 2,559 shares of the oil and natural gas company's stock worth $37,000 after buying an additional 1,140 shares during the period. Finally, Quantbot Technologies LP bought a new position in Enerplus in the 1st quarter worth approximately $37,000. 58.42% of the stock is owned by institutional investors.

About Enerplus

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.