Enerplus (NYSE:ERF) Reaches New 12-Month High at $19.85

Shares of Enerplus Co. (NYSE:ERFGet Free Report) (TSE:ERF) hit a new 52-week high on Tuesday . The stock traded as high as $19.85 and last traded at $19.81, with a volume of 138332 shares trading hands. The stock had previously closed at $19.62.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ERF. TD Securities restated a “tender” rating and issued a $18.85 price target (down from $21.00) on shares of Enerplus in a research note on Thursday, February 22nd. National Bankshares decreased their price target on Enerplus from $25.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. CIBC decreased their price target on Enerplus from $23.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. Finally, StockNews.com began coverage on Enerplus in a research note on Friday, March 29th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Enerplus has an average rating of “Moderate Buy” and an average price target of $21.69.

Check Out Our Latest Research Report on Enerplus

Enerplus Stock Performance

The firm has a fifty day moving average of $17.14 and a 200-day moving average of $16.40. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 9.60 and a beta of 1.99. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.09.

Enerplus (NYSE:ERFGet Free Report) (TSE:ERF) last issued its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $437.10 million during the quarter. Enerplus had a return on equity of 40.36% and a net margin of 27.67%. As a group, sell-side analysts anticipate that Enerplus Co. will post 1.83 EPS for the current 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 issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.58%. This is a boost from Enerplus’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, March 1st. Enerplus’s payout ratio is 12.38%.

Hedge Funds Weigh In On Enerplus

A number of institutional investors have recently made changes to their positions in ERF. Advisor Group Holdings Inc. raised its holdings in shares of Enerplus by 155.3% in the first quarter. Advisor Group Holdings Inc. now owns 30,620 shares of the oil and natural gas company’s stock worth $390,000 after acquiring an additional 18,625 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Enerplus by 656.1% in the first quarter. JPMorgan Chase & Co. now owns 135,638 shares of the oil and natural gas company’s stock valued at $1,723,000 after purchasing an additional 117,700 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Enerplus by 13.0% in the first quarter. Bank of New York Mellon Corp now owns 116,659 shares of the oil and natural gas company’s stock valued at $1,481,000 after purchasing an additional 13,430 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Enerplus in the first quarter valued at $158,000. Finally, Private Advisor Group LLC acquired a new position in Enerplus in the first quarter valued at $138,000. 58.42% of the stock is owned by institutional investors and hedge funds.

About Enerplus

(Get Free Report)

Enerplus Corporation, together with 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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