Enerplus Corp (NYSE:ERF) Short Interest Up 32.3% in October

Enerplus Corp (NYSE:ERF) (TSE:ERF) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 5,160,000 shares, an increase of 32.3% from the September 30th total of 3,900,000 shares. Based on an average daily volume of 1,310,000 shares, the short-interest ratio is presently 3.9 days. Approximately 2.2% of the company’s shares are sold short.

NYSE:ERF opened at $6.51 on Thursday. The company has a 50-day moving average price of $6.66 and a 200-day moving average price of $7.13. Enerplus has a 12 month low of $5.50 and a 12 month high of $10.40. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.28. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 5.97 and a beta of 1.65.

Enerplus (NYSE:ERF) (TSE:ERF) last posted its earnings results on Friday, November 8th. The oil and natural gas company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). Enerplus had a return on equity of 16.44% and a net margin of 32.90%. The company had revenue of $256.81 million during the quarter, compared to analysts’ expectations of $251.00 million. During the same period in the prior year, the business posted $0.35 earnings per share. Equities analysts forecast that Enerplus will post 0.83 EPS for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.008 per share. The ex-dividend date is Wednesday, October 30th. This represents a $0.10 dividend on an annualized basis and a yield of 1.47%. Enerplus’s dividend payout ratio (DPR) is currently 8.26%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. River & Mercantile Asset Management LLP increased its position in Enerplus by 31.6% during the third quarter. River & Mercantile Asset Management LLP now owns 1,367,688 shares of the oil and natural gas company’s stock valued at $10,227,000 after acquiring an additional 328,560 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Enerplus by 23.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 965,159 shares of the oil and natural gas company’s stock valued at $7,181,000 after acquiring an additional 181,904 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Enerplus by 74.7% during the third quarter. Tower Research Capital LLC TRC now owns 35,593 shares of the oil and natural gas company’s stock valued at $265,000 after acquiring an additional 15,222 shares during the last quarter. First Trust Advisors LP increased its position in Enerplus by 29.6% during the third quarter. First Trust Advisors LP now owns 498,530 shares of the oil and natural gas company’s stock valued at $3,709,000 after acquiring an additional 113,857 shares during the last quarter. Finally, Renaissance Group LLC grew its holdings in shares of Enerplus by 14.3% in the third quarter. Renaissance Group LLC now owns 1,780,815 shares of the oil and natural gas company’s stock worth $13,249,000 after purchasing an additional 223,213 shares during the last quarter. 58.83% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on the stock. Capital One Financial raised shares of Enerplus from an “equal weight” rating to an “overweight” rating and set a $12.00 target price for the company in a research report on Friday, September 27th. Royal Bank of Canada dropped their target price on shares of Enerplus from $14.00 to $13.00 in a research report on Friday, October 18th. ValuEngine cut shares of Enerplus from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. CIBC set a $15.00 target price on shares of Enerplus and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Desjardins reaffirmed a “buy” rating on shares of Enerplus in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $13.41.

Enerplus Company Profile

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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