Enerplus (ERF) Lowered to “Hold” at Zacks Investment Research

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Zacks Investment Research cut shares of Enerplus (NYSE:ERF) (TSE:ERF) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “Enerplus Corporation, formerly known as Enerplus Resources, is an independent oil and gas production company with resources across Western Canada and the United States. The Company’s resource plays include shallow gas/coal bed methane, tight gas, crude oil waterfloods, Bakken/Tight oil and oil sands located in British Columbia, Alberta, Saskatchewan and Manitoba. Enerplus Corporation is based in Alberta, Canada. “

Other research analysts have also recently issued reports about the company. TheStreet cut Enerplus from a c rating to a d+ rating in a report on Thursday, August 16th. ValuEngine cut Enerplus from a hold rating to a sell rating in a report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $16.00.

NYSE:ERF opened at $9.14 on Tuesday. The stock has a market cap of $2.38 billion, a PE ratio of 19.87 and a beta of 1.31. Enerplus has a 52 week low of $8.25 and a 52 week high of $13.87. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36.

Enerplus (NYSE:ERF) (TSE:ERF) last released its quarterly earnings data on Friday, August 10th. The oil and natural gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.20). The business had revenue of $183.23 million for the quarter, compared to the consensus estimate of $241.51 million. Enerplus had a return on equity of 8.84% and a net margin of 7.88%. During the same period in the previous year, the business posted $0.53 earnings per share. On average, equities research analysts expect that Enerplus will post 0.75 EPS for the current year.

The company also recently announced a monthly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Tuesday, October 30th will be paid a $0.0077 dividend. The ex-dividend date is Monday, October 29th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.01%. This is a boost from Enerplus’s previous monthly dividend of $0.01. Enerplus’s payout ratio is 11.25%.

Several large investors have recently bought and sold shares of ERF. Mckinley Capital Management LLC Delaware bought a new position in shares of Enerplus in the second quarter valued at approximately $105,000. Sei Investments Co. bought a new position in Enerplus in the 2nd quarter valued at $146,000. PNC Financial Services Group Inc. raised its position in Enerplus by 53.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 14,874 shares of the oil and natural gas company’s stock valued at $188,000 after purchasing an additional 5,206 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Enerplus by 183.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,005 shares of the oil and natural gas company’s stock valued at $227,000 after purchasing an additional 11,656 shares during the last quarter. Finally, Creative Planning raised its position in Enerplus by 72.2% in the 2nd quarter. Creative Planning now owns 19,174 shares of the oil and natural gas company’s stock valued at $242,000 after purchasing an additional 8,040 shares during the last quarter. Institutional investors own 51.18% of the company’s stock.

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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