Morgan Stanley cut its stake in Enerplus Corp (NYSE:ERF) (TSE:ERF) by 23.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 921,090 shares of the oil and natural gas company’s stock after selling 284,438 shares during the quarter. Morgan Stanley’s holdings in Enerplus were worth $11,366,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in shares of Enerplus by 4.6% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,262,200 shares of the oil and natural gas company’s stock valued at $36,082,000 after purchasing an additional 100,100 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Enerplus by 4.8% in the third quarter. Macquarie Group Ltd. now owns 616,000 shares of the oil and natural gas company’s stock valued at $7,602,000 after purchasing an additional 28,200 shares in the last quarter. Worth Venture Partners LLC purchased a new position in shares of Enerplus in the third quarter valued at $149,000. Luminus Management LLC purchased a new position in shares of Enerplus in the third quarter valued at $2,471,000. Finally, Lucia Wealth Services LLC purchased a new position in shares of Enerplus in the third quarter valued at $232,000. Institutional investors own 53.78% of the company’s stock.
Several brokerages have recently weighed in on ERF. Raymond James reiterated a “buy” rating on shares of Enerplus in a research report on Thursday, December 13th. ValuEngine cut Enerplus from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Zacks Investment Research cut Enerplus from a “hold” rating to a “sell” rating in a research report on Thursday, November 15th. SunTrust Banks set a $15.00 price target on Enerplus and gave the company a “buy” rating in a research report on Tuesday, November 27th. Finally, Capital One Financial cut Enerplus from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $18.17.
NYSE:ERF opened at $8.50 on Wednesday. The firm has a market cap of $2.06 billion, a P/E ratio of 12.84 and a beta of 1.67. Enerplus Corp has a 52-week low of $6.84 and a 52-week high of $13.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.20 and a quick ratio of 1.20.
Enerplus (NYSE:ERF) (TSE:ERF) last posted its quarterly earnings data on Friday, November 9th. The oil and natural gas company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The business had revenue of $244.50 million for the quarter, compared to the consensus estimate of $264.36 million. Enerplus had a net margin of 13.12% and a return on equity of 12.80%. Equities research analysts anticipate that Enerplus Corp will post 0.57 EPS for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 15th. Investors of record on Thursday, January 31st will be paid a dividend of $0.007 per share. This represents a $0.08 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Wednesday, January 30th. Enerplus’s dividend payout ratio is 11.25%.
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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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