SunTrust Banks Comments on Enerplus Corp’s Q3 2019 Earnings (NYSE:ERF)

Enerplus Corp (NYSE:ERF) (TSE:ERF) – Investment analysts at SunTrust Banks raised their Q3 2019 earnings per share estimates for shares of Enerplus in a report issued on Sunday, August 11th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and natural gas company will post earnings per share of $0.21 for the quarter, up from their previous estimate of $0.13. SunTrust Banks also issued estimates for Enerplus’ Q4 2019 earnings at $0.25 EPS, FY2020 earnings at $0.98 EPS and FY2021 earnings at $1.04 EPS.

Enerplus (NYSE:ERF) (TSE:ERF) last announced its quarterly earnings results on Friday, August 9th. The oil and natural gas company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.09. The company had revenue of $240.33 million during the quarter, compared to the consensus estimate of $232.00 million. Enerplus had a return on equity of 18.00% and a net margin of 35.14%. During the same period in the previous year, the business earned $0.05 EPS.

A number of other brokerages also recently issued reports on ERF. Royal Bank of Canada reaffirmed a “buy” rating on shares of Enerplus in a report on Friday, August 9th. Desjardins reaffirmed a “buy” rating on shares of Enerplus in a report on Monday. Zacks Investment Research downgraded Enerplus from a “hold” rating to a “strong sell” rating in a report on Tuesday. GMP Securities reaffirmed an “average” rating and set a $16.00 price target on shares of Enerplus in a report on Friday, June 28th. Finally, CIBC set a $15.00 price target on Enerplus and gave the stock a “buy” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $15.46.

Shares of NYSE ERF opened at $6.17 on Wednesday. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 5.66 and a beta of 1.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 1.37. The business has a 50-day moving average of $6.77 and a two-hundred day moving average of $7.93. Enerplus has a 1 year low of $5.50 and a 1 year high of $12.92.

The company also recently announced a monthly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a $0.008 dividend. This is an increase from Enerplus’s previous monthly dividend of $0.01. This represents a $0.10 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Tuesday, July 30th. Enerplus’s payout ratio is presently 8.26%.

Several institutional investors have recently bought and sold shares of ERF. Lindbrook Capital LLC lifted its holdings in shares of Enerplus by 78.5% in the 2nd quarter. Lindbrook Capital LLC now owns 3,876 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 1,704 shares during the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of Enerplus in the 2nd quarter valued at about $86,000. Trexquant Investment LP purchased a new stake in shares of Enerplus in the 2nd quarter valued at about $86,000. Jane Street Group LLC purchased a new stake in shares of Enerplus in the 2nd quarter valued at about $102,000. Finally, Lbmc Investment Advisors LLC purchased a new stake in shares of Enerplus in the 1st quarter valued at about $122,000. 60.70% of the stock is owned by institutional investors and hedge funds.

About Enerplus

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company's oil and natural gas properties are located primarily in North Dakota, Montana, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.

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Earnings History and Estimates for Enerplus (NYSE:ERF)

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