York Capital Management Global Advisors LLC acquired a new position in Enerplus Corporation (NYSE:ERF) (TSE:ERF) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,364,280 shares of the oil and natural gas company’s stock, valued at approximately $19,013,000. York Capital Management Global Advisors LLC owned approximately 0.98% of Enerplus Corporation as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the company. Comerica Bank raised its position in shares of Enerplus Corporation by 1.3% in the first quarter. Comerica Bank now owns 13,775 shares of the oil and natural gas company’s stock worth $101,000 after buying an additional 180 shares during the last quarter. World Asset Management Inc raised its position in shares of Enerplus Corporation by 3.9% in the first quarter. World Asset Management Inc now owns 14,959 shares of the oil and natural gas company’s stock worth $120,000 after buying an additional 568 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Enerplus Corporation during the first quarter worth $148,000. Rafferty Asset Management LLC purchased a new position in shares of Enerplus Corporation during the first quarter worth $154,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Enerplus Corporation during the first quarter worth $158,000. Institutional investors own 50.21% of the company’s stock.
Shares of Enerplus Corporation (NYSE ERF) traded up 3.20% during midday trading on Friday, hitting $8.06. 1,300,123 shares of the stock were exchanged. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 4.04 and a beta of 1.32. Enerplus Corporation has a 12 month low of $5.61 and a 12 month high of $10.33. The firm’s 50-day moving average is $7.86 and its 200-day moving average is $8.50.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last issued its earnings results on Friday, May 5th. The oil and natural gas company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.21. Enerplus Corporation had a net margin of 78.95% and a return on equity of 0.14%. The firm had revenue of $172.11 million during the quarter, compared to analysts’ expectations of $233.23 million. During the same quarter last year, the company posted ($0.84) earnings per share. Equities research analysts predict that Enerplus Corporation will post $0.55 earnings per share for the current year.
The firm also recently announced a monthly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, May 26th were issued a dividend of $0.007 per share. The ex-dividend date was Wednesday, May 24th. This represents a $0.08 annualized dividend and a dividend yield of 1.04%. Enerplus Corporation’s dividend payout ratio (DPR) is presently 4.79%.
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ERF has been the subject of a number of research reports. TheStreet upgraded shares of Enerplus Corporation from a “d” rating to a “c-” rating in a research note on Friday, March 17th. Zacks Investment Research upgraded shares of Enerplus Corporation from a “hold” rating to a “strong-buy” rating and set a $9.25 target price for the company in a research note on Tuesday, April 4th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $16.00 target price on shares of Enerplus Corporation in a research note on Friday, February 24th. Six equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $13.50.
About Enerplus Corporation
Enerplus Corporation is an oil and natural gas company. The Company’s oil and natural gas property interests are located in the United States, primarily in North Dakota, Montana, and Pennsylvania, as well as in western Canada in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s oil and natural gas property interests contains proved plus probable gross reserves of approximately 14.3 million barrels (MMbbls) of light and medium crude oil, 39.0 MMbbls of heavy crude oil, 123 MMbbls of tight oil, 18.1 MMbbls of natural gas liquids (NGLs), 126.3 billion cubic feet (Bcf) of conventional natural gas and 1,002.8 Bcf of shale gas, for a total of approximately 382.5 million barrels of oil equivalent (MMBOE).
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