Enerplus (ERF) Releases Earnings Results, Beats Estimates By $0.03 EPS

Enerplus (NYSE:ERF) (TSE:ERF) released its quarterly earnings results on Friday. The oil and natural gas company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03, Morningstar.com reports. The business had revenue of $216.21 million during the quarter, compared to analysts’ expectations of $215.00 million. Enerplus had a return on equity of 12.78% and a net margin of 32.58%. During the same period in the prior year, the business posted $0.12 EPS.

Enerplus stock traded up $0.30 during midday trading on Friday, reaching $8.85. 1,205,899 shares of the stock traded hands, compared to its average volume of 821,926. Enerplus has a 12-month low of $6.84 and a 12-month high of $13.87. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 8.12 and a beta of 1.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.78 and a quick ratio of 1.78.

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.0075 per share. This represents a $0.09 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Monday, April 29th. Enerplus’s dividend payout ratio (DPR) is 8.26%.

Institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can boosted its holdings in Enerplus by 3.7% during the 4th quarter. Great West Life Assurance Co. Can now owns 1,487,741 shares of the oil and natural gas company’s stock valued at $11,593,000 after acquiring an additional 53,364 shares during the period. Gluskin Sheff & Assoc Inc. purchased a new position in shares of Enerplus in the 4th quarter valued at about $1,557,000. First Trust Advisors LP boosted its stake in shares of Enerplus by 23.0% in the 4th quarter. First Trust Advisors LP now owns 285,151 shares of the oil and natural gas company’s stock valued at $2,213,000 after buying an additional 53,258 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Enerplus by 70.9% in the 4th quarter. Canada Pension Plan Investment Board now owns 415,413 shares of the oil and natural gas company’s stock valued at $3,230,000 after buying an additional 172,320 shares during the period. Finally, CWM Advisors LLC purchased a new position in shares of Enerplus in the 4th quarter valued at about $86,000. Institutional investors own 57.59% of the company’s stock.

ERF has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Enerplus from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a report on Wednesday, April 24th. ValuEngine cut Enerplus from a “sell” rating to a “strong sell” rating in a report on Thursday, January 24th. Canaccord Genuity restated a “buy” rating and set a $18.00 target price on shares of Enerplus in a report on Tuesday, April 9th. Finally, TheStreet upgraded Enerplus from a “d+” rating to a “c+” rating in a report on Monday, February 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Enerplus currently has an average rating of “Buy” and a consensus target price of $17.38.

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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 for Enerplus (NYSE:ERF)

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