Great West Life Assurance Co. Can Continues to Hold Position in Enerplus Corp. (ERF)
Great West Life Assurance Co. Can held its position in shares of Enerplus Corp. (NYSE:ERF) during the second quarter, Holdings Channel reports. The institutional investor owned 41,836 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Enerplus Corp. were worth $164,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Enerplus Corp. during the fourth quarter worth $11,211,000. Nordea Investment Management AB purchased a new position in shares of Enerplus Corp. during the second quarter worth $735,000. CIBC World Markets Inc. raised its position in shares of Enerplus Corp. by 6.8% in the first quarter. CIBC World Markets Inc. now owns 141,358 shares of the company’s stock worth $556,000 after buying an additional 9,036 shares during the period. Credit Agricole S A raised its position in shares of Enerplus Corp. by 460.3% in the first quarter. Credit Agricole S A now owns 266,200 shares of the company’s stock worth $1,047,000 after buying an additional 218,690 shares during the period. Finally, Swiss National Bank raised its position in shares of Enerplus Corp. by 18.4% in the second quarter. Swiss National Bank now owns 404,455 shares of the company’s stock worth $2,651,000 after buying an additional 62,755 shares during the period. Institutional investors own 43.25% of the company’s stock.
Shares of Enerplus Corp. (NYSE:ERF) traded down 1.34% during trading on Monday, hitting $5.90. The stock had a trading volume of 867,916 shares. The company’s market cap is $1.42 billion. The firm’s 50 day moving average is $6.78 and its 200 day moving average is $5.49. Enerplus Corp. has a 1-year low of $1.84 and a 1-year high of $7.82.
Enerplus Corp. (NYSE:ERF) last announced its earnings results on Friday, August 5th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.67. Enerplus Corp. had a negative return on equity of 60.19% and a negative net margin of 155.95%. The business earned $152.40 million during the quarter, compared to analysts’ expectations of $158.40 million. During the same quarter in the previous year, the firm earned ($1.52) EPS. Equities research analysts anticipate that Enerplus Corp. will post ($0.94) EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 29th will be paid a $0.0076 dividend. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.54%. Enerplus Corp.’s payout ratio is presently -1.97%.
A number of equities analysts have recently weighed in on ERF shares. Macquarie upgraded Enerplus Corp. from a “neutral” rating to an “outperform” rating in a research note on Monday, June 6th. Zacks Investment Research upgraded Enerplus Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, May 24th. Canaccord Genuity started coverage on Enerplus Corp. in a research note on Wednesday, August 17th. They set a “buy” rating on the stock. Credit Suisse Group AG reiterated a “buy” rating and set a $11.00 target price on shares of Enerplus Corp. in a research note on Wednesday, June 22nd. Finally, Raymond James Financial Inc. assumed coverage on Enerplus Corp. in a research note on Monday, June 6th. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $9.00.
Enerplus Corp. Company Profile
Enerplus Corporation is an energy producer. The Company’s capital program is focused on the development of its crude oil and natural gas core areas of operation, which includes its North Dakota and Montana crude oil assets in the Williston Basin, and its natural gas interests in northeast Pennsylvania.
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