Enerplus Co. (NYSE:ERF) Raises Dividend to $0.13 Per Share

Enerplus Co. (NYSE:ERFGet Free Report) (TSE:ERF) declared a quarterly dividend on Wednesday, February 21st, Zacks reports. Investors of record on Monday, March 4th will be paid a dividend of 0.13 per share by the oil and natural gas company on Friday, March 15th. This represents a $0.52 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Friday, March 1st. This is a positive change from Enerplus’s previous quarterly dividend of $0.06.

Enerplus has increased its dividend by an average of 24.3% annually over the last three years and has increased its dividend every year for the last 1 years.

Enerplus Stock Performance

Shares of NYSE ERF opened at $17.69 on Thursday. The stock has a fifty day moving average price of $15.23 and a two-hundred day moving average price of $16.13. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $3.60 billion, a P/E ratio of 8.42 and a beta of 1.95. Enerplus has a 1 year low of $12.84 and a 1 year high of $19.01.

Institutional Trading of Enerplus

Several hedge funds and other institutional investors have recently modified their holdings of ERF. Advisor Group Holdings Inc. increased its position in Enerplus by 155.3% during the first quarter. Advisor Group Holdings Inc. now owns 30,620 shares of the oil and natural gas company’s stock worth $390,000 after buying an additional 18,625 shares during the last quarter. JPMorgan Chase & Co. increased its position in Enerplus by 656.1% during the first quarter. JPMorgan Chase & Co. now owns 135,638 shares of the oil and natural gas company’s stock worth $1,723,000 after buying an additional 117,700 shares during the last quarter. Bank of New York Mellon Corp increased its position in Enerplus by 13.0% during the first quarter. Bank of New York Mellon Corp now owns 116,659 shares of the oil and natural gas company’s stock worth $1,481,000 after buying an additional 13,430 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Enerplus during the first quarter worth $158,000. Finally, Private Advisor Group LLC acquired a new position in Enerplus during the first quarter worth $138,000. 56.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ERF shares. National Bankshares decreased their price target on Enerplus from $25.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, January 10th. Royal Bank of Canada increased their price objective on Enerplus from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. CIBC cut their price objective on Enerplus from $23.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. Finally, TD Securities reiterated a “tender” rating and set a $18.85 price objective (down previously from $21.00) on shares of Enerplus in a research report on Thursday, February 22nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.69.

Read Our Latest Research Report on ERF

Enerplus Company Profile

(Get Free Report)

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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Dividend History for Enerplus (NYSE:ERF)

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