Enerplus Co. (NYSE:ERF) Sees Large Increase in Short Interest

Enerplus Co. (NYSE:ERF) (TSE:ERF) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 2,220,000 shares, a growth of 8.3% from the March 31st total of 2,050,000 shares. Based on an average daily trading volume, of 3,380,000 shares, the days-to-cover ratio is presently 0.7 days. Approximately 1.2% of the shares of the stock are sold short.

Hedge Funds Weigh In On Enerplus

Several large investors have recently made changes to their positions in the stock. Lindbrook Capital LLC raised its position in Enerplus by 15.6% in the 1st quarter. Lindbrook Capital LLC now owns 5,543 shares of the oil and natural gas company’s stock valued at $109,000 after purchasing an additional 750 shares in the last quarter. Albert D Mason Inc. grew its holdings in Enerplus by 1.4% during the 1st quarter. Albert D Mason Inc. now owns 44,409 shares of the oil and natural gas company’s stock worth $873,000 after acquiring an additional 621 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Enerplus by 479.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 103,914 shares of the oil and natural gas company’s stock valued at $2,043,000 after purchasing an additional 85,996 shares in the last quarter. Raymond James & Associates lifted its position in shares of Enerplus by 24.4% during the 1st quarter. Raymond James & Associates now owns 350,702 shares of the oil and natural gas company’s stock worth $6,895,000 after purchasing an additional 68,797 shares during the last quarter. Finally, GoalVest Advisory LLC acquired a new position in shares of Enerplus during the first quarter worth $1,151,000. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Enerplus Trading Down 1.3 %

Shares of Enerplus stock opened at $19.34 on Thursday. The firm’s 50 day simple moving average is $19.17 and its two-hundred day simple moving average is $16.84. Enerplus has a 12-month low of $13.46 and a 12-month high of $20.97. 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 firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 9.21 and a beta of 1.99.

Enerplus (NYSE:ERF) (TSE:ERF) last posted its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $437.10 million during the quarter. Enerplus had a net margin of 27.67% and a return on equity of 40.36%. Analysts predict that Enerplus will post 1.99 EPS for the current year.

Enerplus Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.69%. This is an increase from Enerplus’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, March 1st. Enerplus’s dividend payout ratio (DPR) is presently 12.38%.

Analyst Ratings Changes

ERF has been the subject of a number of recent research reports. StockNews.com began coverage on shares of Enerplus in a report on Tuesday. They issued a “hold” rating for the company. National Bankshares reduced their price target on shares of Enerplus from $25.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. CIBC lowered their target price on Enerplus from $23.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th. Royal Bank of Canada cut shares of Enerplus from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $21.00 to $22.00 in a research report on Monday. Finally, TD Securities reiterated a “tender” rating and issued a $18.85 target price (down previously from $21.00) on shares of Enerplus in a research note on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.69.

Enerplus Company Profile

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.