Enerplus (TSE:ERF) Shares Down 5.4%

Enerplus Co. (TSE:ERFGet Rating) (NYSE:ERF) shares fell 5.4% on Monday . The company traded as low as C$23.63 and last traded at C$23.71. 105,679 shares traded hands during trading, a decline of 93% from the average session volume of 1,492,051 shares. The stock had previously closed at C$25.06.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ERF. Stifel Nicolaus boosted their target price on shares of Enerplus from C$32.00 to C$33.00 in a report on Monday, November 7th. Scotiabank downgraded shares of Enerplus from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from C$25.00 to C$26.00 in a report on Thursday, October 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Enerplus presently has an average rating of “Moderate Buy” and a consensus price target of C$20.46.

Enerplus Stock Performance

The stock has a market capitalization of C$5.85 billion and a price-to-earnings ratio of 6.14. The company’s fifty day simple moving average is C$22.26 and its 200 day simple moving average is C$19.64. The company has a quick ratio of 0.61, a current ratio of 0.65 and a debt-to-equity ratio of 49.52.

Enerplus Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a $0.055 dividend. This is an increase from Enerplus’s previous quarterly dividend of $0.05. This represents a $0.22 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, November 29th. Enerplus’s payout ratio is currently 3.84%.

Insider Buying and Selling at Enerplus

In other Enerplus news, Senior Officer Ian Charles Dundas purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The shares were acquired at an average cost of C$18.33 per share, for a total transaction of C$45,825.00. Following the completion of the purchase, the insider now owns 324,352 shares of the company’s stock, valued at approximately C$5,945,372.16.

Enerplus Company Profile

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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. The company's oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.

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