UBS Group AG Trims Stake in Enerplus Corp (ERF)

UBS Group AG trimmed its stake in shares of Enerplus Corp (NYSE:ERF) (TSE:ERF) by 9.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 831,854 shares of the oil and natural gas company’s stock after selling 84,926 shares during the period. UBS Group AG owned about 0.34% of Enerplus worth $9,366,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ERF. Mackenzie Financial Corp raised its position in shares of Enerplus by 18.0% during the 4th quarter. Mackenzie Financial Corp now owns 11,366,279 shares of the oil and natural gas company’s stock worth $111,276,000 after purchasing an additional 1,730,941 shares during the last quarter. Boston Partners raised its position in shares of Enerplus by 2,083.2% during the 1st quarter. Boston Partners now owns 8,421,859 shares of the oil and natural gas company’s stock worth $94,830,000 after purchasing an additional 8,036,098 shares during the last quarter. Lincluden Management Ltd. raised its position in shares of Enerplus by 6.5% during the 4th quarter. Lincluden Management Ltd. now owns 1,779,736 shares of the oil and natural gas company’s stock worth $17,858,000 after purchasing an additional 109,235 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Enerplus by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,482,563 shares of the oil and natural gas company’s stock worth $16,694,000 after purchasing an additional 4,509 shares during the last quarter. Finally, Caymus Capital Partners L.P. raised its position in shares of Enerplus by 43.3% during the 1st quarter. Caymus Capital Partners L.P. now owns 1,362,762 shares of the oil and natural gas company’s stock worth $15,323,000 after purchasing an additional 411,800 shares during the last quarter. Institutional investors own 47.81% of the company’s stock.

Several brokerages recently issued reports on ERF. Zacks Investment Research downgraded Enerplus from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 12th. SunTrust Banks began coverage on Enerplus in a research report on Thursday, June 14th. They set a “buy” rating and a $18.00 price objective for the company. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $15.00.

ERF stock opened at $12.44 on Friday. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 15.55 and a beta of 1.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.53 and a quick ratio of 1.53. Enerplus Corp has a one year low of $7.55 and a one year high of $13.49.

Enerplus (NYSE:ERF) (TSE:ERF) last released its earnings results on Thursday, May 3rd. The oil and natural gas company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.11). The firm had revenue of $209.71 million during the quarter, compared to analysts’ expectations of $213.30 million. Enerplus had a return on equity of 12.94% and a net margin of 19.43%. During the same period in the previous year, the firm posted $0.32 earnings per share. sell-side analysts expect that Enerplus Corp will post 0.94 EPS for the current year.

The company also recently announced a monthly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be paid a $0.008 dividend. The ex-dividend date is Thursday, June 28th. This represents a $0.10 annualized dividend and a yield of 0.77%. Enerplus’s payout ratio is currently 11.25%.

Enerplus announced that its board has approved a stock buyback program on Wednesday, March 21st that permits the company to repurchase 17,100,000 shares. This repurchase authorization permits the oil and natural gas company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Enerplus Profile

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. Its crude oil properties are located in the Fort Berthold region of North Dakota and the Elm Coulee field in Richland County, Montana; and crude oil Waterfloods in Alberta and Saskatchewan, Canada.

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Institutional Ownership by Quarter for Enerplus (NYSE:ERF)

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