CIBC World Markets Inc. lessened its position in Enerplus Corp (NYSE:ERF) (TSE:ERF) by 12.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 733,575 shares of the oil and natural gas company’s stock after selling 103,672 shares during the quarter. CIBC World Markets Inc.’s holdings in Enerplus were worth $9,052,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ERF. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Enerplus by 27.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,673,724 shares of the oil and natural gas company’s stock valued at $172,344,000 after buying an additional 2,973,325 shares during the last quarter. PCJ Investment Counsel Ltd. bought a new position in shares of Enerplus during the second quarter valued at about $28,033,000. Segall Bryant & Hamill LLC bought a new position in shares of Enerplus during the second quarter valued at about $24,701,000. AGF Investments Inc. grew its stake in shares of Enerplus by 2,280.8% during the third quarter. AGF Investments Inc. now owns 1,130,861 shares of the oil and natural gas company’s stock valued at $13,964,000 after buying an additional 1,083,361 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Enerplus by 63.3% during the second quarter. Bank of America Corp DE now owns 2,633,036 shares of the oil and natural gas company’s stock valued at $33,176,000 after buying an additional 1,020,246 shares during the last quarter. 51.71% of the stock is currently owned by institutional investors and hedge funds.
Enerplus stock opened at $9.35 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.40 billion, a PE ratio of 11.69 and a beta of 1.55. Enerplus Corp has a 1-year low of $8.25 and a 1-year high of $13.87.
The company also recently announced a monthly dividend, which will be paid on Friday, December 14th. Stockholders of record on Thursday, November 29th will be issued a dividend of $0.0076 per share. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.97%. Enerplus’s dividend payout ratio is currently 11.25%.
A number of research firms have recently weighed in on ERF. TheStreet lowered shares of Enerplus from a “c” rating to a “d+” rating in a report on Thursday, August 16th. Zacks Investment Research upgraded shares of Enerplus from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Wednesday, October 10th. Finally, ValuEngine lowered shares of Enerplus from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company. Enerplus has a consensus rating of “Hold” and a consensus price target of $16.00.
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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. 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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