Enerplus (NYSE:ERF – Free Report) (TSE:ERF) had its target price increased by BMO Capital Markets from $20.00 to $22.00 in a report published on Thursday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the oil and natural gas company’s stock.
ERF has been the topic of a number of other reports. Barclays upgraded Enerplus from an equal weight rating to an overweight rating in a report on Thursday, April 20th. StockNews.com upgraded Enerplus from a hold rating to a buy rating in a report on Monday, August 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $23.50.
View Our Latest Research Report on Enerplus
Enerplus Stock Performance
Enerplus Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This is an increase from Enerplus’s previous quarterly dividend of $0.01. This represents a $0.24 annualized dividend and a yield of 1.43%. Enerplus’s payout ratio is currently 5.99%.
Institutional Investors Weigh In On Enerplus
Several hedge funds and other institutional investors have recently bought and sold shares of ERF. Genus Capital Management Inc. acquired a new position in shares of Enerplus in the 2nd quarter worth approximately $2,869,000. Renaissance Technologies LLC grew its position in shares of Enerplus by 14.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,554,207 shares of the oil and natural gas company’s stock worth $22,494,000 after acquiring an additional 200,200 shares in the last quarter. Westwood Holdings Group Inc. grew its position in shares of Enerplus by 75.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,131,810 shares of the oil and natural gas company’s stock worth $59,787,000 after acquiring an additional 1,771,056 shares in the last quarter. BlackRock Inc. grew its position in shares of Enerplus by 5.0% in the 2nd quarter. BlackRock Inc. now owns 418,530 shares of the oil and natural gas company’s stock worth $6,056,000 after acquiring an additional 20,073 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Enerplus by 26.9% in the 2nd quarter. Hsbc Holdings PLC now owns 27,216 shares of the oil and natural gas company’s stock worth $397,000 after acquiring an additional 5,763 shares in the last quarter. 52.83% of the stock is currently owned by hedge funds and other institutional investors.
Enerplus Company Profile
Enerplus Corporation, together with subsidiaries, acquires, develops, and explores crude oil and natural gas in the United States. Its oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania. Enerplus Corporation was founded in 1986 and is headquartered in Calgary, Canada.
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