Enerplus Sees Unusually Large Options Volume (NYSE:ERF)

Enerplus Corp (NYSE:ERF) (TSE:ERF) saw some unusual options trading on Tuesday. Stock traders purchased 3,003 put options on the company. This represents an increase of approximately 5,566% compared to the average daily volume of 53 put options.

Institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC increased its position in Enerplus by 78.5% during the second quarter. Lindbrook Capital LLC now owns 3,876 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 1,704 shares during the last quarter. Lavaca Capital LLC acquired a new stake in shares of Enerplus in the first quarter valued at about $35,000. Commonwealth Equity Services LLC acquired a new stake in shares of Enerplus in the second quarter valued at about $86,000. Lbmc Investment Advisors LLC acquired a new stake in shares of Enerplus in the first quarter valued at about $122,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Enerplus by 10.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,237 shares of the oil and natural gas company’s stock valued at $145,000 after purchasing an additional 1,699 shares during the last quarter. 59.15% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on the company. Raymond James restated a “neutral” rating and issued a $35.00 target price on shares of Stantec in a report on Monday, May 13th. Zacks Investment Research upgraded General Moly from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Canaccord Genuity upgraded Nuvista Energy to a “buy” rating in a report on Tuesday, April 9th. Finally, GMP Securities reiterated a “buy” rating and set a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Enerplus presently has an average rating of “Hold” and an average target price of $15.55.

Enerplus stock traded up $0.14 during mid-day trading on Wednesday, hitting $6.69. 25,155 shares of the company’s stock were exchanged, compared to its average volume of 818,760. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $1.52 billion, a PE ratio of 6.18 and a beta of 1.67. Enerplus has a 1-year low of $6.14 and a 1-year high of $13.87. The business has a 50 day moving average price of $7.08.

Enerplus (NYSE:ERF) (TSE:ERF) last posted its earnings results on Friday, May 10th. The oil and natural gas company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The firm had revenue of $216.21 million for the quarter, compared to the consensus estimate of $215.00 million. Enerplus had a net margin of 31.33% and a return on equity of 14.62%. During the same period in the prior year, the business posted $0.12 earnings per share. Analysts expect that Enerplus will post 0.76 EPS for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.008 per share. This represents a $0.10 annualized dividend and a yield of 1.43%. This is an increase from Enerplus’s previous monthly dividend of $0.01. The ex-dividend date is Tuesday, July 30th. Enerplus’s dividend payout ratio is presently 8.26%.

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.

Further Reading: Straddles

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