Enerplus Corporation (NYSE:erf) (TSE:ERF) declared a monthly dividend on Tuesday, May 16th, NASDAQ reports. Shareholders of record on Friday, May 26th will be paid a dividend of 0.007 per share by the oil and natural gas company on Thursday, June 15th. This represents a $0.08 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Wednesday, May 24th.
Enerplus Corporation has decreased its dividend by an average of 48.9% annually over the last three years. Enerplus Corporation has a payout ratio of 10.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Enerplus Corporation to earn $0.68 per share next year, which means the company should continue to be able to cover its $0.09 annual dividend with an expected future payout ratio of 13.2%.
Shares of Enerplus Corporation (NYSE:ERF) traded up 3.20% during trading on Friday, reaching $8.06. The company’s stock had a trading volume of 1,300,123 shares. Enerplus Corporation has a 12-month low of $5.61 and a 12-month high of $10.33. The firm’s 50-day moving average is $7.88 and its 200-day moving average is $8.50. The stock has a market capitalization of $1.95 billion, a PE ratio of 4.04 and a beta of 1.32.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last released its quarterly earnings results on Friday, May 5th. The oil and natural gas company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.21. Enerplus Corporation had a return on equity of 0.14% and a net margin of 78.95%. The company had revenue of $172.11 million during the quarter, compared to analysts’ expectations of $233.23 million. During the same period last year, the business posted ($0.84) earnings per share. Equities analysts expect that Enerplus Corporation will post $0.55 earnings per share for the current year.
A number of equities research analysts have commented on ERF shares. Zacks Investment Research upgraded Enerplus Corporation from a “hold” rating to a “strong-buy” rating and set a $9.25 price target for the company in a research note on Tuesday, April 4th. TheStreet upgraded Enerplus Corporation from a “d” rating to a “c-” rating in a research note on Friday, March 17th. Finally, Canaccord Genuity restated a “buy” rating and issued a $16.00 price objective on shares of Enerplus Corporation in a research note on Monday, May 8th. Six analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $13.50.
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A hedge fund recently raised its stake in Enerplus Corporation stock. Vanguard Group Inc. boosted its stake in Enerplus Corporation (NYSE:ERF) (TSE:ERF) by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,643,180 shares of the oil and natural gas company’s stock after buying an additional 121,664 shares during the period. Vanguard Group Inc. owned 1.93% of Enerplus Corporation worth $37,378,000 as of its most recent SEC filing. Institutional investors and hedge funds own 50.21% of the company’s stock.
About Enerplus Corporation
Enerplus Corporation is an oil and natural gas company. The Company’s oil and natural gas property interests are located in the United States, primarily in North Dakota, Montana, and Pennsylvania, as well as in western Canada in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s oil and natural gas property interests contains proved plus probable gross reserves of approximately 14.3 million barrels (MMbbls) of light and medium crude oil, 39.0 MMbbls of heavy crude oil, 123 MMbbls of tight oil, 18.1 MMbbls of natural gas liquids (NGLs), 126.3 billion cubic feet (Bcf) of conventional natural gas and 1,002.8 Bcf of shale gas, for a total of approximately 382.5 million barrels of oil equivalent (MMBOE).
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