Royal Bank of Canada downgraded shares of Enerplus (NYSE:ERF - Free Report) TSE: ERF from an outperform rating to a sector perform rating in a research report report published on Monday morning, Marketbeat Ratings reports. Royal Bank of Canada currently has $22.00 price objective on the oil and natural gas company's stock, up from their prior price objective of $21.00.
A number of other equities analysts have also recently commented on ERF. TD Securities reaffirmed a tender rating and issued a $18.85 target price (down from $21.00) on shares of Enerplus in a report on Thursday, February 22nd. National Bankshares decreased their target price on Enerplus from $25.00 to $21.00 and set an outperform rating on the stock in a report on Wednesday, January 10th. CIBC cut their price objective on Enerplus from $23.00 to $19.00 and set an outperform rating for the company in a research report on Tuesday, January 16th. Finally, StockNews.com initiated coverage on Enerplus in a research report on Monday, April 22nd. They set a hold rating for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Enerplus has an average rating of Moderate Buy and a consensus price target of $21.69.
Read Our Latest Stock Report on Enerplus
Enerplus Stock Performance
Shares of NYSE ERF traded down $0.13 during midday trading on Monday, hitting $20.38. 2,584,059 shares of the stock traded hands, compared to its average volume of 2,950,674. The firm has a 50-day moving average of $18.97 and a two-hundred day moving average of $16.79. The firm has a market capitalization of $4.16 billion, a P/E ratio of 9.77 and a beta of 1.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 0.80. Enerplus has a one year low of $13.46 and a one year high of $20.97.
Enerplus (NYSE:ERF - Get Free Report) TSE: ERF last announced its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. Enerplus had a return on equity of 40.36% and a net margin of 27.67%. The company had revenue of $437.10 million for the quarter. On average, equities analysts forecast that Enerplus will post 1.99 EPS for the current fiscal year.
Enerplus Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Friday, March 1st. This is an increase from Enerplus's previous quarterly dividend of $0.06. Enerplus's payout ratio is currently 12.38%.
Hedge Funds Weigh In On Enerplus
A number of large investors have recently bought and sold shares of ERF. Commonwealth Equity Services LLC raised its stake in Enerplus by 8.4% in the third quarter. Commonwealth Equity Services LLC now owns 13,647 shares of the oil and natural gas company's stock worth $241,000 after buying an additional 1,057 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Enerplus by 8.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 23,616 shares of the oil and natural gas company's stock valued at $416,000 after buying an additional 1,923 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Enerplus by 1,314.7% during the third quarter. Raymond James & Associates now owns 257,590 shares of the oil and natural gas company's stock valued at $4,541,000 after buying an additional 239,382 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Enerplus by 4.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 56,389 shares of the oil and natural gas company's stock valued at $994,000 after buying an additional 2,216 shares during the last quarter. Finally, IAG Wealth Partners LLC purchased a new stake in shares of Enerplus during the third quarter valued at $38,000. Institutional investors own 58.42% of the company's stock.
Enerplus Company Profile
(
Get 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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