Brokerages Set Enerplus Co. (NYSE:ERF) Price Target at $21.69

Shares of Enerplus Co. (NYSE:ERF) (TSE:ERF) have been given a consensus rating of “Buy” by the six research firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $21.69.

Several analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Enerplus in a report on Sunday, April 14th. They issued a “hold” rating on the stock. National Bankshares reduced their target price on shares of Enerplus from $25.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, January 10th. TD Securities reaffirmed a “tender” rating and issued a $18.85 target price (down previously from $21.00) on shares of Enerplus in a report on Thursday, February 22nd. Finally, CIBC reduced their target price on shares of Enerplus from $23.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th.

Enerplus Stock Down 1.1 %

Shares of ERF opened at $19.83 on Friday. The stock has a market capitalization of $4.05 billion, a PE ratio of 9.44 and a beta of 1.99. Enerplus has a 1 year low of $13.46 and a 1 year high of $20.97. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 0.80. The company’s 50-day simple moving average is $18.44 and its 200-day simple moving average is $16.64.

Enerplus (NYSE:ERF) (TSE:ERF) last issued 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 the consensus estimate of $0.53 by $0.01. The business had revenue of $437.10 million for the quarter. Enerplus had a net margin of 27.67% and a return on equity of 40.36%. Analysts forecast that Enerplus will post 2.06 earnings per share for the current fiscal year.

Enerplus Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Enerplus’s previous quarterly dividend of $0.06. This represents a $0.52 annualized dividend and a dividend yield of 2.62%. Enerplus’s dividend payout ratio (DPR) is currently 12.38%.

Institutional Investors Weigh In On Enerplus

A number of hedge funds and other institutional investors have recently bought and sold shares of ERF. Advisor Group Holdings Inc. raised its stake in shares of Enerplus by 155.3% during the 1st quarter. Advisor Group Holdings Inc. now owns 30,620 shares of the oil and natural gas company’s stock worth $390,000 after buying an additional 18,625 shares during the last quarter. JPMorgan Chase & Co. increased its position in Enerplus by 656.1% during the 1st quarter. JPMorgan Chase & Co. now owns 135,638 shares of the oil and natural gas company’s stock worth $1,723,000 after purchasing an additional 117,700 shares in the last quarter. Bank of New York Mellon Corp increased its position in Enerplus by 13.0% during the 1st quarter. Bank of New York Mellon Corp now owns 116,659 shares of the oil and natural gas company’s stock worth $1,481,000 after purchasing an additional 13,430 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Enerplus during the 1st quarter worth about $158,000. Finally, Private Advisor Group LLC purchased a new stake in Enerplus during the 1st quarter worth about $138,000. Institutional investors and hedge funds own 58.42% of the company’s stock.

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.