Zacks Investment Research cut shares of Enerplus (NYSE:ERF) (TSE:ERF) from a buy rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

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 analysts also recently issued reports about the company. ValuEngine upgraded Enerplus from a sell rating to a hold rating in a research note on Friday, January 3rd. Capital One Financial upgraded Enerplus from an equal weight rating to an overweight rating and set a $12.00 target price for the company in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Enerplus currently has an average rating of Buy and an average target price of $15.04.

Shares of ERF traded down $0.18 during trading hours on Wednesday, hitting $5.55. The stock had a trading volume of 104,564 shares, compared to its average volume of 964,437. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $6.77 and a 200-day simple moving average of $6.70. The firm has a market capitalization of $1.35 billion, a P/E ratio of 4.24 and a beta of 1.66. Enerplus has a 1-year low of $5.50 and a 1-year high of $9.73.

Enerplus (NYSE:ERF) (TSE:ERF) last issued its earnings results on Friday, November 8th. The oil and natural gas company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). The firm had revenue of $256.81 million during the quarter, compared to analyst estimates of $251.00 million. Enerplus had a net margin of 32.90% and a return on equity of 16.47%. During the same quarter in the prior year, the business earned $0.35 earnings per share. Equities analysts predict that Enerplus will post 0.82 EPS for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 30th will be paid a $0.0077 dividend. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.09 annualized dividend and a dividend yield of 1.66%. Enerplus’s dividend payout ratio is presently 8.26%.

A number of hedge funds have recently added to or reduced their stakes in ERF. First Trust Advisors LP boosted its stake in Enerplus by 24.4% during the 1st quarter. First Trust Advisors LP now owns 354,811 shares of the oil and natural gas company’s stock valued at $2,984,000 after purchasing an additional 69,660 shares during the last quarter. LPL Financial LLC boosted its stake in Enerplus by 144.2% during the 2nd quarter. LPL Financial LLC now owns 45,025 shares of the oil and natural gas company’s stock valued at $339,000 after purchasing an additional 26,591 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Enerplus by 35.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 97,931 shares of the oil and natural gas company’s stock valued at $738,000 after purchasing an additional 25,470 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in Enerplus by 6.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 85,411 shares of the oil and natural gas company’s stock valued at $643,000 after purchasing an additional 5,244 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Enerplus by 194.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 20,371 shares of the oil and natural gas company’s stock valued at $153,000 after purchasing an additional 13,448 shares during the last quarter. Institutional investors and hedge funds own 57.78% 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. The company's oil and natural gas properties are located primarily in North Dakota, Montana, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.

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Analyst Recommendations for Enerplus (NYSE:ERF)

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