Enerplus (ERF) Reaches New 52-Week Low at $14.58

Shares of Enerplus Corp (TSE:ERF) (NYSE:ERF) reached a new 52-week low on Wednesday . The stock traded as low as C$14.58 and last traded at C$14.65, with a volume of 456006 shares trading hands. The stock had previously closed at C$15.29.

A number of equities analysts recently weighed in on ERF shares. Raymond James increased their price objective on shares of Enerplus from C$20.00 to C$23.50 in a research report on Thursday, July 5th. Canaccord Genuity increased their price objective on shares of Enerplus from C$18.00 to C$21.00 in a research report on Tuesday, July 10th. CSFB increased their target price on shares of Enerplus from C$20.00 to C$23.00 in a report on Wednesday, July 11th. National Bank Financial increased their target price on shares of Enerplus from C$18.50 to C$25.00 and gave the stock a “c$17.01” rating in a report on Wednesday, July 18th. Finally, CIBC reduced their target price on shares of Enerplus to C$22.00 in a report on Friday, July 20th. Six analysts have rated the stock with a buy rating, Enerplus has an average rating of “Buy” and an average price target of C$20.54.

Enerplus (TSE:ERF) (NYSE:ERF) last released its earnings results on Friday, August 10th. The oil and natural gas company reported C$0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.32 by C($0.27). The business had revenue of C$236.43 million for the quarter, compared to analyst estimates of C$314.01 million. Enerplus had a return on equity of 3.85% and a net margin of 5.63%.

The firm also recently announced a oct 18 dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a yield of 0.78%.

In other news, Director Elliott Pew acquired 5,000 shares of Enerplus stock in a transaction dated Thursday, September 6th. The shares were acquired at an average cost of C$11.17 per share, for a total transaction of C$55,850.00. Also, insider Edward Mclaughlin acquired 4,000 shares of Enerplus stock in a transaction dated Thursday, September 13th. The stock was purchased at an average price of C$11.72 per share, for a total transaction of C$46,880.00. Over the last quarter, insiders have acquired 11,500 shares of company stock worth $136,810.

Enerplus Company Profile (TSE:ERF)

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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