Denver Investment Advisors LLC Increases Stake in Enerplus Corporation (ERF)
Denver Investment Advisors LLC raised its stake in Enerplus Corporation (NYSE:ERF) (TSE:ERF) by 114.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,936,157 shares of the oil and natural gas company’s stock after buying an additional 1,568,465 shares during the period. Enerplus Corporation accounts for approximately 1.1% of Denver Investment Advisors LLC’s investment portfolio, making the stock its 18th largest position. Denver Investment Advisors LLC’s holdings in Enerplus Corporation were worth $23,842,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp boosted its position in shares of Enerplus Corporation by 38.1% in the first quarter. Mackenzie Financial Corp now owns 9,820,064 shares of the oil and natural gas company’s stock valued at $79,052,000 after buying an additional 2,709,978 shares in the last quarter. York Capital Management Global Advisors LLC acquired a new position in shares of Enerplus Corporation during the first quarter valued at $19,013,000. UBS Asset Management Americas Inc. boosted its position in shares of Enerplus Corporation by 620.7% in the first quarter. UBS Asset Management Americas Inc. now owns 2,686,403 shares of the oil and natural gas company’s stock valued at $21,573,000 after buying an additional 2,313,652 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Enerplus Corporation by 155.4% in the first quarter. Bank of Montreal Can now owns 2,300,030 shares of the oil and natural gas company’s stock valued at $18,516,000 after buying an additional 1,399,475 shares in the last quarter. Finally, Boston Advisors LLC acquired a new position in shares of Enerplus Corporation during the second quarter valued at $3,628,000. 49.32% of the stock is owned by institutional investors.
Enerplus Corporation (NYSE:ERF) opened at 8.94 on Tuesday. The company has a 50 day moving average of $8.54 and a 200 day moving average of $8.28. The company has a market capitalization of $2.16 billion, a PE ratio of 4.18 and a beta of 1.40. Enerplus Corporation has a 1-year low of $5.61 and a 1-year high of $10.33.
Enerplus Corporation (NYSE:ERF) (TSE:ERF) last announced its quarterly earnings results on Friday, August 11th. The oil and natural gas company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.16. Enerplus Corporation had a return on equity of 0.14% and a net margin of 78.95%. The business had revenue of $191.57 million during the quarter, compared to the consensus estimate of $257.94 million. During the same quarter in the prior year, the company posted ($0.77) earnings per share. On average, analysts predict that Enerplus Corporation will post $0.79 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a dividend of $0.0079 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.10 annualized dividend and a yield of 1.06%. Enerplus Corporation’s dividend payout ratio (DPR) is currently 3.14%.
ILLEGAL ACTIVITY NOTICE: This story was first published by Watch List News and is owned by of Watch List News. If you are reading this story on another website, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this story can be read at https://www.watchlistnews.com/denver-investment-advisors-llc-increases-stake-in-enerplus-corporation-erf/1490804.html.
ERF has been the subject of several research reports. Zacks Investment Research cut shares of Enerplus Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Canaccord Genuity reaffirmed a “buy” rating and set a $16.00 price target on shares of Enerplus Corporation in a research note on Monday, May 8th. Capital One Financial Corporation initiated coverage on shares of Enerplus Corporation in a research note on Tuesday, July 11th. They set an “overweight” rating and a $13.00 price target for the company. BidaskClub raised shares of Enerplus Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, ValuEngine raised shares of Enerplus Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $13.40.
Enerplus Corporation Company Profile
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).
Want to see what other hedge funds are holding ERF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enerplus Corporation (NYSE:ERF) (TSE:ERF).
Receive News & Ratings for Enerplus Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enerplus Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.